Kuwait increased its investments in US treasury bills and bonds by 7.4 percent during July to reach $49.4 billion, compared to $46 billion at the end of June, meaning that it increased in a month by $3.4 billion, ranking second in the Gulf region in the size of its holdings of US bonds.
GCC investments in US Treasury bills and bonds rose 3.87 percent on a monthly basis at the end of July to $228.712 billion from $220.19 billion at the end of June, led by Saudi Arabia, whose holdings rose by 2.013 percent to $121.6 billion from $119.2 billion in June, reports a local Arabic daily.
The UAE came in third place, with total investments of $41.3 billion at the end of July, compared to $39.9 billion in the previous month, an increase of 3.5 percent, followed by Qatar, which raised its investments in US bonds from $7.272 billion at the end of June to 8.231 billion. By the end of July, it increased by 13.2 percent.
The Sultanate of Oman came fifth, as it raised its investments by 4.4 percent from $6.702 billion at the end of June to 6.996 billion at the end of July, while Bahrain bottomed the list in the Gulf, as its investments in US bonds amounted to $1.185 billion at the end of July, an increase of 6.56 percent compared to 1 112 billion at the end of June.
Read Today's News TODAY... on our Telegram Channel click here to join and receive all the latest updates t.me/thetimeskuwait
