Riyadh – Mubasher: Saudi Arabia increased its holdings of US Treasury bonds by 8.44% year-on-year, or SAR 14.3 billion, in August.

The kingdom’s holdings of US government bonds amounted to $183.8 billion in August, compared to $169.5 billion in the same month a year earlier, according to recent data released by the US Department of the Treasury.

The GCC nation continued raising its holding for the seventh month in a row, hitting the highest level in 2019.

On a monthly basis, Saudi holdings of the US debt instruments increased by SAR 3 billion, or 1.65%, compared to $180.8 billion in July.

Globally, Japan ranked the top holder of the US Treasury bonds with $1.174.7 trillion, followed by China with $1.103.5 trillion.

At the level of Arab nations, Saudi Arabia ranked the top investor in the US debt instruments, followed by the UAE and Kuwait with $49.4 billion, and $44.1 billion, respectively.