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UAE raises holdings of US Treasury bonds in August

UAE raises holdings of US Treasury bonds in August
The UAE has raised its holdings of US Treasury bonds by 0.2% month-on-month

By: Enas Bahgat

UAE – Mubasher: The UAE has raised its holdings of US Treasury bonds by 0.2% month-on-month, or $100 million, in August to $49.4 billion from $49.3 billion, data by the US Department of the Treasury showed.

Year-on-year, the GCC state’s investment in the US debt instruments dropped by 16.3%, or $9.6 billion, last August, compared to holdings of $59 billion in August 2018, the US department added in a recent report.

The UAE came in the 24th place among holders of the US sovereign debts, while Japan topped the list with $1.174 trillion followed by China with holdings of $1.103 trillion.

At the level of Arab states, the UAE came in the second spot after Saudi Arabia which led the list as the top holder of US government bonds in the Arab world with holdings of $183.8 billion, the report highlighted.

 

Translated by: Mai Ezz El-Din