Saudi Arabia Interest Rate

Last Release

Mar 31, 2024

Actual

Units In

Frequency

Daily

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
7 May 2000	1 Mar 2020	3.57 %	1992-2024	Saudi Arabian Monetary Agency

In Saudi Arabia the interest rates decisions are taken by the Saudi Arabian Monetary Agency (SAMA). Central bank official interest rate is the Official Repo Rate (ORR).

Latest Updates

The Saudi Central Bank raised its repo rate by 25 bps to 6% in its July 2023 meeting, pushing the borrowing cost to the highest level since 2001, in line with the Federal Reserve’s decision. Saudi Arabia typically follows the US central bank policy because the Riyal is pegged to the dollar. Also, the bank hiked the reverse repo rate by 25 basis points to 5.5 percent.