|Follow us on:|
China remains the largest holder of these securities with exposure worth $1.32 trillion in November, slightly higher than $1.30 trillion recorded in October, says new data from the US Treasury Department. This means China retains its lead as the United States’ largest foreign creditor.
India increased its holding of American government securities to $63.9 billion for the second straight month in November last year.
Among the BRICS, India has the second lowest exposure to these securities after South Africa.
In November, Brazil’s holding rose marginally to $246.9 billion as compared to $246.7 billion in the previous month.
Even though Russia’s exposure is higher than India, the country trimmed its holdings by as much as $10 billion to $139.9 billion at the end of November last.
Within the BRICS bloc, only South Africa has the lowest exposure than India at 11.7 billion in November whereas the same was at 10.6 billion in October 2013.
The exposure for India, at the end of last November is also the highest compared to the previous five months.??In October 2013, the holdings were worth $59.9 billion.
Despite uncertainties in the world’s largest economy, India has been increasing its exposure to American treasury bills since September last when it touched $56.8 billion.
At the end of July 2013, the amount of US securities in BRICS reserves totalled $1738.2 billion.
TBP and Agencies