Saudi Arabia's M3 money supply growth accelerated to a 14-month high of 8.6 percent year-on-year at the end of February, from an 8.1 percent rise in the previous month, central bank data showed on Tuesday.

The kingdom's money supply rose 8.1 per cent on the year in January, and the central bank’s foreign assets inched up one per cent year on year, data from the Saudi Arabian Monetary Agency (Sama) showed.

M3, the broadest measure of money supply, came in at SR1.087 trillion ($289.9 billion) in January, up from SR1.006 trillion in the same month a year ago and from SR1.080 trillion in December, the data stated.