Saudi AMA increases Repurchase rate by 25 basis points to 6.00 percent

Riyadh, July 26, 2023, In a significant move, the Saudi Central Bank (SAMA) has announced its decision to increase the rate of Repurchase agreements (Repo) by 25 basis points, bringing it to 6.00 percent. Additionally, the rate of the reverse repurchase agreement (Reverse Repo) has also been raised by 25 basis points, now standing at 5.50 percent. This decision by SAMA is expected to have a notable impact on the financial landscape. The decisions made by SAMA are in accordance with their mandate to maintain monetary stability.