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Saudi holdings of US debt instruments down 31% in July

Saudi holdings of US debt instruments down 31% in July
The kingdom’s holdings of US bonds amounted to SAR 124.6 billion last July

Riyadh – Mubasher: Saudi Arabia has lowered its holdings of US treasury bonds by 31.08% year-on-year (YoY) in July 2020, equivalent to SAR 56.2 billion.

The kingdom’s holdings of US bonds amounted to SAR 124.6 billion last July, compared with SAR 180.8 billion in the year-ago month, official data showed on Thursday.

On a monthly basis, Saudi holdings of US debt instruments inched down by 0.2%, compared to its level in June at SAR 124.6 billion.

In the first seven months of the year, the holdings decreased by 30.7% or SAR 55.2 billion when compared to their level at the end of 2019 at SAR 179.8 billion.

The kingdom ranked 16th among the biggest worldwide holders of US debt instruments on a list topped Japan and China with $1.293 trillion and $1.073 trillion, respectively.

It also took the first spot among Arab states investing in US treasury bonds, followed by Kuwait with $47.9 billion.