By: Enas Bahgat

Abu Dhabi – Mubasher: The UAE’s holdings of US Treasuries retreated by 24.5%, or $12.1 billion, during September 2019 to $37.3 billion, compared to $49.4 billion in August, data by the US Department of the Treasury showed.

Year-on-year, the UAE holdings of US T-bonds dropped by 38%, or $22.7 billion, in September, from $60 billion a year earlier. 

In August 2019, the UAE raised its holdings by $100 million to $49.4 billion from $49.3 billion in July 2018.

Globally, Japan topped holders of US Treasuries with $1.15 trillion holdings in September, followed by China which owned $1.1 trillion US T-bonds in the same month.

Among Arab states, the UAE came in the third place in terms of US T-bonds ownership after Saudi Arabia which topped the list with $181.5 billion, followed by Kuwait with $44.1 billion.