September 16, 2018 / 11:18 AM / a year ago

Saudi foreign reserves rising, capital outflows due to investment

RIYADH, Sept 16 (Reuters) - Foreign reserves at Saudi Arabia’s central bank have been increasing this year and a large proportion of recent capital outflows has been due to foreign investment by other Saudi institutions, a central bank official said on Sunday.

Ayman bin Mohammed al-Sayari, the bank’s deputy governor for investment, also told a news conference that the reserves had risen moderately from the previous month in August. Official data for last month has not yet been published. (Reporting by Marwa Rashad and Stephen Kalin; Writing by Andrew Torchia)

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