RIYADH: Saudi Central Bank’s total assets went up by 2.2 percent in November from a month ago to hit SR1.89 trillion ($504 billion), it said in its monthly report.

Deposits with banks abroad was the main driver of this change as it rose by 19.9 percent to stand at SR324.1 billion by the end of November.

Net foreign assets held by SAMA increased – month on month – by 3.2 percent to hit SR1.68 trillion in November, the bank said.

Meanwhile, the central bank’s investments in foreign securities were little changed, edging down by 0.1 percent to reach SR1.14 trillion.

Reserve assets experienced the highest monthly increase since March 2019 to be valued at SR1.74 trillion in November. This reflected a 3.01 percent month-on-month growth rate.