Saudi Arabia Macroeconomic Developments
- The Saudi Central Bank (SAMA) and the People’s Bank of China signed a local currency swap agreement worth SAR26 billion ($6.93 billion). According to SAMA, the three-year agreement was established in the context of financial cooperation between the Saudi Central Bank and the People’s Bank of China.
- Saudi holdings of U.S. Treasury bonds reached SAR439 billion ($117.1 billion) in September, up from SAR420 billion ($112 billion) in August. This marks a nine-month high for the Kingdom and has propelled it to the 17th spot among the largest holders of U.S. Treasury bonds. Approximately SAR383 billion ($102.1 billion) or 87 percent of the total was allocated to long-term bonds.
