Domestic liquidity in the Saudi economy recorded an annual growth of 228.7 billion riyals by the end of September 2025, a growth rate of 7.8%, to reach about 3.2 trillion riyals, compared to about 2. 9 trillion riyals during the same period in 2024, reflecting the growth of the money supply in the broad sense of “n3", according to the monthly statistical bulletin issued by the Bank of Saudi Arabia.9 trillion riyals during the same period of 2024, reflecting the growth of the money supply in its broad sense "N3“, according to the monthly statistical bulletin issued by Saudi Central Bank ”SAMA“ for the month of September 2025.
Domestic liquidity grew quarter-on-quarter by 52.3 billion riyals, or 1.7%, compared to its level of 3.1 trillion riyals at the end of the second quarter of the same year, and liquidity continued to rise on a monthly basis by 20.4 billion riyals, or 0.6%, compared to the end of August 2025, when it reached about 3.15 trillion riyals.
Demand deposits topped the N3 money supply components with a contribution of nearly 47%, with a value of about 1.5 trillion riyals, followed by ”time and savings deposits“ with a contribution of 36.3%, with a value of 1.2 trillion riyals.2 trillion riyals, while ”other quasi-monetary deposits« amounted to 304.4 billion riyals, with a contribution rate of approximately 10%, while »cash in circulation outside banks“ came in fourth place with an estimated contribution rate of 7.5%, with a value of 237.3 billion riyals. It is worth mentioning that quasi-monetary deposits include residents” deposits in foreign currencies, repo operations with the private sector, outstanding transfers, and deposits against documentary credits, and the money supply includes N1 cash outside banks and demand deposits, while N2 represents both N1 and time and savings deposits, while N3 represents the broader concept of adding other quasi-monetary deposits.
N2 represents both N1 and time and savings deposits, while N3 represents the broadest concept by adding other quasi-monetary deposits.
