RIYADH: Saudi Arabia increased its holdings of US Treasury securities to $134.4 billion in October, maintaining its position among the world’s largest foreign holders, official data showed.
Holdings were up 0.07 percent from September, when they stood at $134.3 billion, according to data released by the US Treasury Department. The Kingdom’s portfolio had totaled $133.1 billion in August and $131.7 billion in July.
Saudi Arabia ranked 18th globally among foreign holders of US Treasuries during the month. Compared with January, its holdings were 5.91 percent higher, reflecting a gradual increase through the year.
The Kingdom and other countries invest in these bonds for their safety, diversification benefits, and alignment with their economic relationships with the US.
The allocation underscores Saudi Arabia’s preference for longer-dated US government debt as part of its foreign reserve strategy, focused on capital preservation, liquidity and diversification amid global market volatility.
