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|17 February, 2019

UAE raises holdings of US T-bills in December

The UAE ranked second among investors in the US Treasuries in the Arab world

The main branch for UAE Central Bank is seen in Abu Dhabi.

The main branch for UAE Central Bank is seen in Abu Dhabi.

REUTERS/Stringer

Abu Dhabi – Mubasher: The UAE has upped its holdings of US Treasury bonds by 0.88%, or $500 million, month-on-month, to $56.8 billion in December 2018.

Year-on-year, the GCC nation’s US Treasury holdings declined 1.6%, or $900 million, in the last month of 2018, compared to $57.7 billion in December 2017, data by the US Treasury Department showed.

The UAE ranked second among investors in the US Treasuries in the Arab world, with Saudi Arabia taking the lead with $171.6 billion in US treasury holdings.

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Globally, China ranked the top holder of US debt instruments with $1.123 trillion, followed by Japan with $1.042 trillion.

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