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India trims US govt securities holding in November

Exposure stood at $115.4 billion in November 2015 against $116.6 billion in October 2015

Press Trust of India  |  Washington 

An employee counts rupee notes at a cash counter inside a bank in Agartala

has reduced its exposure to US to $115.4 billion in November last year even as BRIC peers and hiked their holdings during the same period.

remained the largest holder of US Treasury securities in November with exposure worth $1.265 trillion, followed by at $1.145 trillion.

Latest data from the US Treasury Department showed that India's holding declined to $115.4 billion during the month, from $116.6 billion in October 2015.

The reduction comes at a time when the is witnessing headwinds, especially from growth concerns in and relatively sluggish recovery in as well as the US.

India's exposure had fallen to $113.5 billion in September from $115.6 billion seen in August.

While cut its exposure, sharply increased its holding to $88 billion last November whereas that of remained unchanged at $255 billion compared to the October.

China too raised its holding marginally.

In the three months ended December 31, the US economy grew 0.7 % while the GDP expansion stood at 2 % in July-September quarter of 2015.

"The increase in real GDP in the fourth quarter primarily reflected positive contributions from personal consumption expenditures (PCE), residential fixed investment, and federal government spending that were partly offset by negative contributions from private inventory investment, exports, and nonresidential fixed investment," the US Bureau of Economic Analysis said on January 29.

First Published: Sun, January 31 2016. 12:02 IST