India’s Holdings Of American Government Securities Touch $135.7 Billion
India is the 3rd largest holder of US bonds in the BRICS group after China and Brazil
India has sharply increased its exposure to U.S. government securities with holdings worth $135.7 billion 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 American government securities and the country is the third largest holder among the BRICS group after China and Brazil ($271.9 billion). At the end of July, Russia held securities worth $103.1 billion.
According to the latest data from the U.S. Treasury Department, India's holding of the securities touched $135.7 billion at the end of July, the highest in a year.
There has been a significant jump in exposure compared to June when it stood at $130.3 billion. Since February this year, India's holding of these securities has been on the rise. At the end of January, the exposure was just $113.7 billion.
India is the 12th largest holder of U.S. government securities just behind Saudi Arabia whose exposure stood at $142.5 billion at the end of July.
Other countries in the top ten are Ireland ($310.8 billion) at the third place, followed by Brazil, Cayman Islands ($259.2 billion), Switzerland ($244.8 billion), United Kingdom ($229.7 billion), Luxembourg ($213 billion), Hong Kong ($199.1 billion) and Taiwan ($182.5 billion).
In a recent release, the Treasury Department said foreign residents increased their holdings of long term U.S. securities in July and net purchases stood at $5.1 billion.
“Foreign residents increased their holdings of U.S. Treasury bills by $3.1 billion. Foreign resident holdings of all dollar-denominated short-term U.S. securities and other custody liabilities increased by $7.4 billion,” the release said.