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UAE cuts holdings of US Treasury bonds in July

UAE cuts holdings of US Treasury bonds in July
Saudi Arabia topped the Arab list with $180.8 billion US investments

UAE – Mubasher: The UAE has reduced its holdings of the US Treasury bonds by 4.2% or $2.2 billion month-on-month (MoM) during July 2019.

MoM, the US Treasuries fell to $49.3 billion in July 2019 from $51.5 billion, the US Department of the Treasury recently stated.

Year-on-year, the UAE’s holdings of US debt instruments plunged by 17.4% to $10.4 billion in July 2019 from $59.7 billion during the corresponding month in 2018.

Globally, the UAE ranked the 23rd among holders of the US Treasury bonds. Japan headed the list with $1.130 trillion, followed by China with $1.110 trillion, the UK with $334.7 billion, and Brazil with $309.9 billion.

As for Arab countries, Saudi Arabia topped the list with $180.8 billion US investments, followed by the UAE.