RIYADH: For the eighth straight month, March saw an increase in Saudi Arabia’s holdings of US treasuries, totaling $135.9 billion, or 3.66 percent more than the previous month.

Based on official data released by Washington, the Kingdom was ranked 17th among the biggest investors in these kinds of financial instruments in March.

The analysis stated that long-term bonds totaling $107.3 billion, or 79% of Saudi Arabia’s US Treasuries holdings, comprised the majority of the holdings.

However, short-term bonds issued by the Kingdom made up 21% of the total value in March, valued at $28.6 billion.

As of February, the Kingdom held $131.1 billion in US Treasury securities, down from $133.5 billion in January and $132 billion in December.

According to the data, Japan may have been the biggest buyer of US Treasury bonds in March. Its holdings of $1.18 trillion were up 1.16 percent from February.

China and the UK followed, with portfolio values of $767.4 billion and $728.1 billion, respectively.

Luxembourg and Canada took fourth and fifth place, respectively, with treasury holdings totaling $399.3 billion and $359.1 billion. Ireland came in sixth place with $317.8 billion in holdings, followed by Belgium with $317.1 billion in portfolios.

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