Saudi Arabia’s holdings of US Treasuries reached $143.9 billion in September 2024, a month-on-month increase of $1.1 billion.
The investments were distributed among long-term bonds worth $113.4 billion, representing 79% of the total, with short-term bonds amounting to $30.5 billion, amounting to the remaining 21%, the latest figures released by the US Treasury showed.
The US Treasury holdings were the Kingdom’s in nearly four and half years. In 2020, Saudi Arabia’s Central Bank transferred $40 billion from its bond holdings to the Public Investment Fund (PIF) to compensate for the impact of the pandemic on equity markets.
The world’s largest oil producer has been increasing its holdings since April. It remains the only Arab country among the top 20 foreign holders of US Treasuries, at number 17.
The UK, Luxembourg, France and Canada, also increased holdings in what is considered the world’s safest asset. Japan and China made reductions in their bond holdings, but continued to lead the list.
The top five holders of this asset in September 2024 were as follows:
- Japan: $1.12 trillion
- China: $772 billion
- United Kingdom: $764.7 billion
- Cayman Islands: $420.1 billion
- Luxembourg: $417.8 billion
Total foreign holdings of Treasuries reached $8.67 trillion.
