Riyadh – Mubasher: Saudi Arabia continued to increase its holdings of US Treasury bonds (T-bonds) in November 2020 for the fourth consecutive month, reaching an eight-month high.

The kingdom’s holdings of T-bonds rose by 2.5% monthly in November 2020 to stand at $137.6 billion, the highest since March 2020, compared with $134.2 billion in October, according to data from the US Department of the Treasury.

On a yearly basis, the Gulf country’s holdings of US bonds shrank by 23.4% or $42.1 billion last November.

In the first eleven months of 2020, Saudi investments in US debt instruments decreased by 23.5% or $42.2 billion when compared to their level at the end of 2019 at $179.8 billion.

Saudi Arabia ranked 14th among holders of US debt instruments on a list topped by Japan and China with $1.261 trillion and $1.063 trillion, respectively.

Among Arab states, the kingdom took the first spot, followed by Kuwait and the UAE with $46.1 billion and $36.8 billion, respectively.