RIYADH: Saudi holdings of US Treasuries increased to $119.2 billion in the month of June from $114.7 billion in May, according to data released by the US Treasury.
Out of the $4.5 billion increase in the total value of US Treasuries in June, long-term papers accounted for $2.7 billion, while the short-term bonds accounted for $1.8 billion.
Overall, Saudi Arabia’s long-term bond investments in the US Treasuries accounted for 86 percent or $102.02 billion, while short-term paper accounted for $17.1 billion or 14 percent.
The $4.5 billion growth in value of US Treasury holdings held by Saudi residents marks the biggest monthly increase since August 2020.
The total value of US Treasury holdings held by Saudi Arabia in June is also the second highest for this year. In January 2022, Saudi holdings of the treasuries stood at $119.4 billion.
In the new list, the Kingdom maintained its 16th spot among the largest holders of US debt in June.
Japan was the top holder of US Treasury bonds in June with a value of $1.24 trillion, followed by China and the UK with $967.8 billion and $615.4 billion respectively.
Luxembourg grabbed the fourth spot with $306.8 billion, while the Cayman Islands garnered fifth place with $300.4 billion.
Looking at some other oil exporting countries, the residents of Norway increased their holding in US treasuries by $4 billion to $112.4 billion.
The UAE’s US Treasury holdings surged by $1.6 billion to reach $39.9 billion.
Kuwaiti residents’ holding value, however, slipped from $46.3 billion to $46 billion in June.