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Saudi money supply growth surges in Aug

Saudi Arabia’s M3 money supply growth accelerated to 9.7 per cent year-on-year at the end of August
after a 9.5 per cent rise in the previous month, according to central bank data.

The increase in bank lending to the private sector accelerated to 14 per cent in August from 13.6 per cent in the previous month.

The central bank’s net foreign assets reached a record high of SR2.27 trillion ($605 billion) in August, the data also showed.

-Reuters, Sep 30 2012]

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