MUMBAI - India has sharply increased its exposure to US government securities with holdings worth R1.8 trillion at the end of July, official data showed.
Neighbouring China continued to top the charts with holding to the tune of $1.166 trillion, followed by Japan with exposure worth $1.113 trillion.
In recent months, India has increased its purchase of US government securities and the country is the third-largest holder among the Brazil, Russia, India, China and South Africa (Brics) group after China and Brazil ($271.9bn).
At the end of July, Russia held securities worth $103.1bn. According to the latest data from the US Treasury Department, India’s holding of the securities touched $135.7bn as of July end - also the highest in a year.
There has been a significant jump in the exposure compared with June when it stood at $130.3bn. India is the 12th largest holder of US government securities. -
-THE ASIAN AGE