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GCC holdings of US debt instruments fall 2.7% in October

GCC holdings of US debt instruments fall 2.7% in October

By: Bedour El-Raie

Mubasher: Most of the GCC counties have declined their US Treasury holdings in October, retreating 2.76% month-on-month to $284.848 billion in October from $292.944 billion.

Saudi Arabian holdings of the US debt instruments decreased to $176.1 billion (SAR 660.38 billion) in October compared to a month earlier, according to data released by the US Department of Treasury.

The holdings of the UAE and Qatar went down to $57.7 billion and $1.23 billion, respectively in October, the data said.

Oman's US Treasury holdings also declined to $9.592 billion at the end of October, compared to the previous month.

Meanwhile, Kuwait and Bahrain upped their investments in the US debt instruments to $44.1 billion and $928 million, respectively, during the same month.

 

Globally

China topped US Treasury holders, with $1.13 trillion bonds, followed by Japan and Brazil, with $1.02 trillion and $313.9 billion, respectively.