The holding of US Treasury securities by the Kingdom of Saudi Arabia reached $127.3 billion in May 2021, the new data obtained from the US government shows, Arab News informed.
Compared to the previous month the amount was down 3% but it was up 3% from May 2020. The yearly growth follows the global trends, as world countries raised their holdings by 2.25% in the year that leads up to May 2021.
However, according to some analysis Saudi holdings are still beneath their peak of $184.4 billion in the month of February 2020.
Due to the global pandemic which started in March last year, the government of Saudi Arabia reduced its holding by 25% and later in April 33.8%, as the reserves of the Kingdom were affected by the downfall of oil prices.