- Kingdom’s holdings in US treasuries increased by 5.85 percent in November compared to the same month in 2023
- Saudi Arabia is only GCC country to secure a place among the top 20 holders of US Treasury securities
RIYADH: Saudi Arabia’s holdings in US treasuries reached $135.6 billion by the end of November, representing a marginal decline of 2.58 percent compared to October, official data showed.
The Kingdom’s holdings in US treasuries stood at $139.2 billion in October, while it was $143.9 billion and $142.8 billion in September and August, respectively.
Data released by the US Treasury Department revealed that Saudi Arabia maintained its 17th place among the largest holders of such financial instruments in November.
The Kingdom and other nations are investing in these bonds for their safety, diversification benefits, and alignment with their economic relationships with the US.
The latest data also said that Saudi Arabia is the only country in the Gulf Cooperation Council region to secure a place among the top 20 holders of US Treasury securities.
The Kingdom’s holdings in US treasuries increased by 5.85 percent in November compared to the same month in 2023, according to the report.
Saudi Arabia’s holdings of US Treasuries were distributed among long-term bonds worth $112.3 billion, representing 83 percent of the total.
Short-term bonds amounted to $23.2 billion, accounting for 17 percent.
The report said Japan was the largest investor in US treasury bonds in November, with holdings totaling $1.09 trillion, representing a decline of 0.91 percent compared to October.
Japan was followed by China and the UK, with portfolios valued at $768.6 billion and $765.6 billion, respectively. Luxembourg and the Cayman Islands were ranked fourth and fifth on the list, with treasury holdings amounting to $424.5 billion and $397 billion.
Canada secured the sixth spot with holdings worth $374.4 billion, closely followed by Belgium with portfolios of $361.3 billion.
Ireland came in eighth with treasury reserves worth $338.1 billion, followed by France and Switzerland, with assets amounting to $332.5 billion and $300.6 billion, respectively.
Taiwan was ranked 11th on the list, with treasury holdings worth $286.9 billion.
Singapore came in the 12th spot with assets amounting to $257.7 billion, followed by Hong Kong and India, with holdings worth $255.7 billion and $234 billion.
The UAE held US treasury holdings worth $73.13 billion by the end of November. Kuwait also maintained a steady presence in the US Treasury market, with its holdings standing at $51.2 billion.
Source: www.arabnews.com