Saudi foreign exchange reserves hit 13-year low in April

May 29th, according to the monthly report released by the Saudi Central Bank on Sunday, in April this year, Saudi Arabia’s overseas net assets fell to 1.538 trillion riyals (about 410 billion U.S. dollars), the lowest level since January 2010. This is despite the Saudi government projecting a second annual budget surplus this year. Earlier this month, Saudi Arabia returned to the bond market by selling $6 billion in Islamic bonds. The country’s fiscal deficit in the first quarter of this year has reached 2.91 billion riyals.