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  • 17-05-23

    Saudi Arabia's Holdings of US Treasuries Rise to USD116.2 Billion in March

    (MENAFN) According to the latest data released by the US Treasury Department, Saudi Arabia's holdings of US Treasuries increased by USD4.5 billion in March, reaching a total of USD116.2 billion. On an annual basis, the Kingdom's holdings of these bonds registered a growth rate of 1.2 percent, amounting to USD115.5 billion.

    Among the total value of Saudi Arabia's holdings, long-term bonds accounted for USD103.2 billion, representing 89 percent, while short-term bonds made up the remaining 11 percent with a value of USD13 billion. It is important to note that Saudi Arabia's foreign reserve assets are determined by considering various factors, including international securities investments, foreign currency and deposits, reserves with the International Monetary Fund, special drawing rights, and gold reserves.

    The data further reveals that Saudi Arabia maintained its position as the 17th largest holder of US debt in March. Japan retained its position as the largest non-US holder with a total of USD1.087 trillion, slightly higher than the previous month's figure of USD1.082 trillion. China, the second-largest non-US holder of Treasuries, also increased its holdings, reaching USD869.3 billion in March compared to USD848.8 billion in February.

    In addition to the US Treasury data, the Saudi Central Bank, also known as SAMA, released information stating that the Kingdom's foreign reserve assets experienced a decline of SR52.2 billion (USD13.92 billion) in March 2023. The total foreign reserves stood at SR1.64 trillion, down from SR1.68 trillion in February.

    Overall, these developments reflect Saudi Arabia's continued participation in the US Treasury market as a significant holder of US Treasuries, while also demonstrating fluctuations in the Kingdom's foreign reserve assets.

    MENAFN17052023000045014228ID1106260958

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