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#1
07-01-2015, 06:24 AM
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Saudi c.bank May net foreign reserves drop 1 pct to $672 bln
Net foreign assets at Saudi Arabia's central bank fell to 2.521 trillion riyals ($672.2 billion) in May, down by $6.6 billion or 1.0 percent from the previous month as the kingdom continued to draw down reserves to cover a budget gap caused by cheap oil. Assets fell by $11.8 billion in April from the previous month, by $16.0 billion in March and by $20.2 billion in February.
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