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Saudi holdings of US treasury bills slightly decline in September

Saudi holdings of US treasury bills slightly decline in September

Saudi holdings of US treasury bills slightly decline in September
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MOSCOW: Saudi Arabia’s holdings of US Treasury securities recorded slight change in September, Arab News reported.

The total value of the securities held by Saudi residents stood at $124.3 billion as of the end of September, up 0.2 percent from $124.1 billion in August, according to the latest data from the US Department of Treasury.

Despite a slight increase from August figures, the holdings are on a downward trajectory since November 2020. In July 2021, the US Treasury securities stood at $128.1 billion.

The November 2020 figure of $137.6 billion had marked a 10 per cent rise, compared with $125.3 billion recorded in April 2020, the lowest figure since March 2017.

The Saudi holdings of US Treasuries declined drastically at the height of the pandemic in March and April 2020 when they plunged $25 billion and $34 billion on a month-on-month basis, or 16 per cent and 27 per cent, respectively.

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