Riyadh – Mubasher: Saudi Arabia has raised its holdings of US debt instruments by 22.9% year-on-year, or $31.6 billion, to  $169.5 billion in August, compared to $137.9 billion, the US Department of the Treasury’s data on Wednesday.

On a monthly basis, the oil-rich Kingdom also increased holdings of US Treasury bonds by $2.7 billion, or 1.6%, in August from $166.8 billion.

Saudi Arabia topped the Arab holders of the US debt instruments, followed by the UAE with $59 billion, and Kuwait with $43.6 billion.

At the global level, China came first with $1.165 trillion, followed by Japan with $1.03 trillion.