- 3-month high for treasuries
- Had been reducing holdings
- Pledges during Trump visit
Saudi Arabia’s holdings of US treasuries hit a three-month high in July, according to official data, in a further indication that the kingdom has upped its exposure to the United States.
The government bonds, commonly known as treasuries, are considered among the lowest-risk investments. Many foreign countries with excess dollars – through trade surpluses with the US or by selling dollar-denominated goods such as oil – buy vast amounts of treasuries.
Yet Saudi Arabia had cut its holdings steadily from $143.9 billion in September 2024 to $126.4 billion in February, repatriating money to help fund its Vision 2030 programme.
Riyadh has since changed course, increasing its investments to $131.7 billion of treasuries in July. This is $1.1 billion up on the figure for June, according to the US Department of the Treasury.