The annual growth in Saudi Arabia's M3 money supply slowed to 11.3 per cent in November although a modest rise helped bank credit to jump to their highest level in at least 13 months, official data showed.

Bank credits stood at SR723.4 billion ($192.9 billion) by end-November up from SR722.6 billion in October and SR723.2 billion a year earlier, data from the Saudi Arabian Monetary Agency's (SAMA) website showed on Monday.

M3, the broadest measure of money circulating, was SR1,023.2 billion in November, up from SR919.3 billion a year earlier and SR1,003.9 billion in October.

The annual growth in M3 was 11.4 per cent in October.-Reuters