RIYADH: Saudi Arabia’s holdings of US Treasuries fell to the lowest level in about four years in October.
The Kingdom’s stocks of US government debt fell by $8 billion, the most in a year, to $116.5 billion, according to US Treasury Department data.
Countries like Saudi Arabia build part of their reserves by buying US holdings as they can be liquidated very fast. The Kingdom and other oil exporters increased their holdings over the past few years when crude prices were on the rise.
Saudi Arabia was the biggest seller after Norway, which sold $16 billion in October, the latest month for which figures are available.
Saudi Arabia last made a big sell-off of US debt in March and April last year, dumping nearly $60 billion of Treasuries in total.