India top investor in US govt securities among BRIC nations
India increased its exposure to the US treasury bills by more than $4 bn in Oct, which is higher than Brazil, Russia and China. Day in pics | Confluence 07 | Biz week in pics
By PTI |
NEW YORK: Riding on strong forex reserves, India has increased its investment in the US government securities by the maximum amount among the four emerging nations forming the famous BRIC block.
India increased its exposure to the American treasury bills by more than four billion dollars in the month of October, which is higher than Brazil, Russia and China, according to the latest data available with the US Department of Treasury.
India had American treasury bills worth 13.7 billion dollars at the end of October, compared to 9.6 billion dollars a month ago.
According to an analysis of the data, India increased its investment in treasury bills by 4.1 billion in October, while Brazil and Russia raised their exposure by 3.4 billion dollars and 1.9 billion dollars, respectively.
Interestingly, world's fastest growing economy China (including the mainland) which have been making heavy investments in US treasury bills in recent months, cut its exposure by 8.6 billion dollars to 388.1 billion dollars. As on October, Brazil had bills worth 112.8 billion dollars while Russia had 14.9 billion dollars.
Last year in October, India had American government securities worth 12 billion dollars. Japan is the largest holder of the US treasury bills to the tune of 591.8 billion dollars, the data showed. Apart from Reserve Bank of India (RBI), other parties from the country who invest in US government securities include General Insurance Corporation of India.
The latest data released by Reserve Bank of India on Friday showed that country's forex reserves stood at 272.954 billion dollars for the week ended December 14.
India increased its exposure to the American treasury bills by more than four billion dollars in the month of October, which is higher than Brazil, Russia and China, according to the latest data available with the US Department of Treasury.
India had American treasury bills worth 13.7 billion dollars at the end of October, compared to 9.6 billion dollars a month ago.
According to an analysis of the data, India increased its investment in treasury bills by 4.1 billion in October, while Brazil and Russia raised their exposure by 3.4 billion dollars and 1.9 billion dollars, respectively.
Interestingly, world's fastest growing economy China (including the mainland) which have been making heavy investments in US treasury bills in recent months, cut its exposure by 8.6 billion dollars to 388.1 billion dollars. As on October, Brazil had bills worth 112.8 billion dollars while Russia had 14.9 billion dollars.
Last year in October, India had American government securities worth 12 billion dollars. Japan is the largest holder of the US treasury bills to the tune of 591.8 billion dollars, the data showed. Apart from Reserve Bank of India (RBI), other parties from the country who invest in US government securities include General Insurance Corporation of India.
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The latest data released by Reserve Bank of India on Friday showed that country's forex reserves stood at 272.954 billion dollars for the week ended December 14.
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