Saudi Arabia's foreign exchange reserves are reduced for 2 consecutive months
At the end of April, Saudi Arabia's foreign exchange reserves amounted to $ 443.75 billion, which is $ 20.9 billion less than a month earlier.
The country's foreign exchange reserves are falling at a record pace for the second month in a row, according to the New York Times. This is largely due to the collapse in the oil market, as well as to the discounts that the Saudis provide for black gold to capture markets in Europe and Asia.
But Saudi Arabia also spent a large amount on the purchase of shares in leading American companies such as Facebook, Citigroup, Marriott and others. In March and April, the country's Central Bank spent $ 40 billion on these goals.