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India’s holdings of American government securities touch $135.7 billion

LiveMint logoLiveMint 01-10-2017 PTI

Washington: India has sharply increased its exposure to US 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 US treasury department, India’s holding of the securities touched $135.7 billion as on July end — also the highest in a year.

There has been a significant jump in the 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 US 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 US securities in July and net purchases stood at $5.1 billion. “Foreign residents increased their holdings of US treasury bills by $3.1 billion. Foreign resident holdings of all dollar-denominated short-term US securities and other custody liabilities increased by $7.4 billion,” the release said.

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