Saudi Arabia Economic Calendar

Economy of Saudi Arabia

Saudi Arabia has embraced a free market economic structure and is the eighteenth biggest economy in the world. Saudi Arabia is a permanent and founding member of OPEC and a member of the G20.

Saudi Arabia holds the world's third-most-valuable deposits of natural resources, mostly petroleum and natural gas. The nation ranks second in proven petroleum reserves and sixth in measured natural gas reserves. Currently, Saudi Arabia is the world's biggest exporter of petroleum.

It possesses additional natural resources such as modest reserves of gold, silver, iron, copper, and other significant minerals.

Bank of Saudi Arabia

The central bank of the Kingdom of Saudi Arabia is the Saudi Central Bank, formerly the Saudi Arabian Monetary Authority, the central bank continues to use the same format abbreviation (SAMA) after the name change in 2020.

The bank's main functions include issuing the Saudi Riyal, the national currency, supervising commercial banks, controlling foreign exchange reserves, supporting price and exchange rate stability, and securing the financial system's growth and reliability, as well as administering several cross-bank electronic financial systems.

Interest Rate of Saudi Arabia

The Official Repo Rate is the Interest Rate in Saudi Arabia which is set by the Saudi Arabian central bank (SAMA).

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