Saudi money supply growth slowed to 8.4% in June as the M3 stock hit a record 3,382 billion riyals

The Saudi Central Bank reported on Friday, 31 July 2026, that the kingdom's broad money supply (M3) grew 8.4% in June 2026 from June a year earlier. Annual money supply growth was 8.9% in May, so the pace has now slowed for a second consecutive month.

According to the same data, the M3 stock reached 3,382,381 million Saudi riyals in June, up from 3,367,405 million riyals in May, the highest level recorded since the series began in 1993. Private bank lending grew 6.8% year on year in June, against 6.6% in May, and the kingdom's foreign exchange reserves rose to 1,854,565 million riyals from 1,831,123 million.

Saudi Arabia's policy interest rate stood unchanged at 4.25% in July 2026, with the reverse repo rate at 3.75%. The riyal is pegged to the dollar, so the kingdom's monetary policy effectively tracks the Federal Reserve's rate path. The figures came a day after Saudi Arabia's second quarter budget deficit report and give a clearer picture of liquidity conditions in the largest Persian Gulf economy during the war.