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UAE reduces US Treasury holdings by 1.17% in August

UAE reduces US Treasury holdings by 1.17% in August
The UAE’s investments in US debt instruments increased by 5.5% year-on-year, or $3.1 million, in August

Dubai – Mubasher: The UAE has slashed its holdings of the US Treasury bonds by 1.17% month-on-month to $59 billion in August, from $59.7 billion, according to official data. 

The Gulf country’s investments in US debt instruments increased by 5.5%, or $3.1 million, in August, when compared with $55.9 billion in the same month a year earlier, according to the US Department of the Treasury’s data late on Tuesday. 

The UAE ranked 22nd among the foreign holders of the US Treasuries, while China came on the top with investments worth $1.165 trillion, followed by Japan with $1.03 trillion. 

As for the Arab countries, the UAE ranked second after Saudi Arabia, which topped the Arab holders of the US debt instruments with $169.5 billion.