The foreign assets of Saudi Arabia dropped by more than $1 billion in August, the first time in seven months, Emirates 24/7 reports. The assets, held by the central bank Saudi Arabian Monetary Agency, slipped from nearly $515.4 billion at the end of July to about $5.099 billion at the end of August.

The decline was registered because of a large fall in bank deposits as investment in foreign securities recorded an increase in August. The foreign securities rose from $358.78 billion to $361.6 billion.

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