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September 01, 2011Cash Rules Everything Around Them
The Saudi royal family that is:
The foreign assets of Saudi Arabia’s central bank have crossed $500bn for the first time.Measured on a per capita basis or as a percentage of gross domestic product the kingdom’s foreign asset holdings are substantially higher than China’s, according to research from HSBC in Dubai.
Of that vast wealth around $360bn are holdings in foreign securities, the majority of which, analysts say, are US treasury bills. The central bank doesn’t give a full break down of its holdings and doesn’t say whether its data is mark-to-market.
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