Washington: India increased its exposure to U.S. government securities to $59.9 billion in October, the highest in four months, notwithstanding the uncertainties in the world’s largest economy.
By hiking its holdings by as much as $3.1 billion in October, India has reversed the recent trend of trimming the exposure to U.S. treasury bills.
In October, the country’s exposure stood at $59.9 billion, one of the lowest among BRICS nations, compared to $56.8 billion-worth holdings in September, according to latest data from the U.S. Treasury Department.
In the same month, the U.S. had seen a standoff between Democratic and Republican lawmakers over the budget that even paralysed the functioning of the American government.
India’s exposure to these securities in August stood at $57 billion, lower than $58.9 billion in the previous month. The same touched $61.2 billion in June this year.
China remains the largest holder of American debt, with holdings worth over $1.30 trillion in October, followed by Japan with securities of $1.17 trillion.
Among the BRICS, Brazil had the second highest exposure at $246.7 billion while that of Russia stood at $149.9 billion in October.
BRICS is a grouping of five nations — Brazil, Russia, India, China and South Africa.
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