Riyadh – Mubasher: Saudi Arabia raised its ownership of US bonds and treasury bills (T-bills) by 48% to reach $137.9 billion during August 2017, compared to $93 billion in August 2016, the US Department of the Treasury said.

Month-on-month, the Kingdom’s ownership of the US bonds and T-bills dropped 3% to $137.9 billion, from $142.5 billion, the US’s body added.

China topped the ownership of US T-bills and bonds with $1.2 trillion, followed by Japan with $1.1 trillion.

At the level of Arab countries regarding ownership of US T-bills and bonds in August Saudi Arabia ranked first, followed by the UAE with $55.9 billion, and Kuwait with $35.6 billion.