Egypt’s holdings of U.S. treasuries hit $2.2 billion in May

Egypt’s buying of U.S. treasuries recorded $2.2 billion at the end of May, recent data by the U.S. Department of the Treasury showed.

This makes Egypt becoming the eighth largest Arab holder of U.S. treasuries, capturing a 0.8 percent share.

Arab countries’ purchase of U.S. treasuries stood at $272.5 billion, representing 0.03 percent share of the total foreign buying, which had reached $7.135 trillion.

Saudi Arabia ranked first in terms of Arab holdings of U.S. treasuries, as it invested around $127.3 billion. The UAE came second with $57.3 billion of investments, followed by Kuwait of $45.9 billion, Iraq of $20.9 billion, and Qatar of $7.1 billion.