UAE – Mubasher: The UAE has raised its holdings of US Treasury bonds by 2.01% month-on-month, or $1.1 billion, in March to $55.6 billion from $54.5 billion, data by the US Department of the Treasury showed.

Year-on-year, the GCC state’s investment in the US debt instruments slumped by 2.11%, or $1.3 billion, last March, versus holdings of $56.8 billion, the US department added in a recent report.

The UAE came in the 21th place among holders of the US sovereign debts, while China topped the list with $1.12 trillion followed by Japan with holdings of $1.078 trillion.

At the level of Arab states, Saudi Arabia led the list as the top holder of US government bonds in the Arab world with holdings of $170 billion, the report highlighted.

It is worth noting that the UAE had contracted its holdings of the US Treasury bonds in February to $54.5 billion from $56 billion in January.