India cuts US debt holding to $38.9 bn in July

Washington, Oct 15 (PTI) For the first time in ten
months, India has cut down its investment in American debt
securities which fell to USD 38.9 billion in July.

India's holding of US treasury securities marginally
declined to USD 38.9 billion in July as compared to USD 39.3
billion in June.

Going by the data available with the US Treasury
Department, India has decreased its investment in such
securities for the first time since October 2008, when the
same stood at USD 18.3 billion.

In September last year, when the collapse of then Wall
Street titan Lehman Brothers pushed the global financial
system into a tizzy, India's investment in US treasury
securities had touched USD 20.3 billion.

On the other hand, neighbouring China continues to remain
the largest foreign holder of these securities, with their
investment reaching a whopping USD 800.5 billion in July.

Interestingly, China has hiked its investment that month
from USD 776.4 billion in June.

Except China, rest of the BRIC nations brought down their
holding of US treasury securities in July.

Brazil cut its investment to USD 138.1 billion as
compared to USD 139.8 billion in June while Russia decreased
the same to USD 118 billion from USD 119.9 billion in the
previous month. (MORE) PTI RAM
JVN


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