India's Holding Of U.S. Government Bonds Touch $114 Billion In May

WASHINGTON: India increased its exposure to U.S. government securities by $ 31 billion in the first five months of 2015, taking the overall holdings to $ 114 billion. 

This is also the highest level of holding by India in more than a year. 

Latest data from the U.S. Treasury Department shows that China continued to have the maximum exposure to American government securities with May holdings touching $ 1.27 trillion. 

India's holding climbed to $ 114 billion from $ 110.3 billion in April. The total exposure has surged by 31 billion in the first five months of 2015. 

The holding stood at just $ 83 billion, according to the data. 

The country has been steadily raising its exposure to the American government securities. 

Interestingly, the U.S. economy has been sluggish in recent months and its GDP contracted for the 2015 March quarter. 

"The decrease in real GDP in the first quarter primarily reflected negative contributions from exports, nonresidential fixed investment, and state and local government spending that were partly offset by positive contributions from personal consumption expenditures, private inventory investment, and residential fixed investment," the U.S. Bureau of Economic Analysis had said last month. 

Meanwhile, Japan had the second highest exposure to American government securities with holdings worth $ 1.21 trillion in May. 

Among the other BRIC nations, Brazil's holdings stood at $ 258.5 billion while that of Russia touched $ 70.6 billion during the period.
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