Saudi Arabia reduces holdings of US treasuries in May

The Kingdom’s holdings of US treasuries shrank from $130.3bln in April to $127.3bln in May

  
A U.S. Dollar banknote is seen in this illustration taken May 26, 2020. Image used for illustrative purpose

A U.S. Dollar banknote is seen in this illustration taken May 26, 2020. Image used for illustrative purpose

REUTERS/Dado Ruvic/Illustration

Riyadh – Mubasher: Saudi Arabia has decreased its holdings of US treasury bonds by 2.3% or $3 billion in May compared to April, according to official data.

The Kingdom’s holdings of US treasuries shrank from $130.3 billion in April to $127.3 billion in May, registering the lowest level in 10 months since reaching $124.6 billion in July 2020.

On an annual basis, the Saudi holdings of US debt instruments in May this year increased by 3.07% or $3.8 billion from $123.5 billion in the same month in 2020.

Since the beginning of 2021, Saudi Arabia’s investments in the US treasuries narrowed by 6.6% or $9.1 billion in May when compared to $136.4 billion at the end of December 2020.

The Gulf country remained in the 14th position globally as an investor in the US treasury bonds in May this year, while Japan topped the list with $1.26 trillion worth of holdings.

At the regional level, Saudi Arabia topped the Arab countries, followed by the UAE with holdings worth $57.3 billion.

Source: Mubasher

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