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Saudi Arabia’s holdings of US Treasury securities rose 19 per cent in February to $160.4 billion, the highest level in recent years, as the kingdom increased purchases of short-term debt, official data showed.
The total was up from $134.8bn in January and 26.9pc higher than $126.4bn a year earlier, marking a monthly increase of $25.6bn, according to Treasury International Capital data.
Separate Treasury International Capital data showed Saudi Arabia was a net buyer of US securities in February, with purchases totalling $24.8bn.
The kingdom’s US Treasury holdings are closely watched as a barometer of the country’s foreign reserve management and the recycling of oil revenues into global financial markets.
The kingdom remains among the larger foreign holders of US government debt and is the biggest investor within the GCC.
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