Saudi Arabia's FX Reserves Drop To Four-Year Low Amid Oil Price Collapse

Saudi Arabia’s FX Reserves Drop To Four-Year Low Saudi Arabia’s FX reserves dropped for the 13th consecutive month during February as below oil prices continue to weigh on the Kingdom’s finances. That’s according to a flash research note on the Kingdom’s financial position from HSBC. Also see  Oil Prices Could Be Headed To $100: Andy Hall The country’s FX reserves stood at $593 billion in February, a month-on-month drop of $9.4 billion. While this decline was modest, it takes the total outflow of central bank foreign assets since oil prices began to decline in late 2014, to $150 billion. Saudi…