GCC's US Treasury holdings register $257.7bn in November

GCC's US Treasury holdings register $257.7bn in November
Saud Arabia’s holdings ranked first among the GCC economies

By: Mahmoud Gamal

Mubasher: The GCC countries’ holdings of the US Treasuries rose 0.2% to $257.65 billion in November 2017, compared to $257.12 billion in October, according to US Department of the Treasury (USDT).

Saud Arabia’s holdings ranked first among the GCC economies, jumping 2.6% to $149.03 billion in November versus $145.2 billion a month earlier, the treasury department’s data showed.

The UAE came the second, holding $58.2 billion of the US’ Treasuries during November, compared to $57.7 billion the previous month, while Bahraini holdings went up to $637 million in November, in comparison with $612 million a month earlier, the USDT revealed.

On the other hand, Kuwait, Oman, and Qatar reduced their holdings in November 2017 to $36.8 billion, $12.7 billion, and $320 million, respectively.  

China topped the US Treasuries holders, with total holdings of $1.1766 trillion, followed by Japan, which holds $1.0841 trillion worth of US government debt, the USDT concluded.

 

Translated by: Muhammad Khalid