India cuts exposure to US govt securities at $77.5 bn in Oct

Apart from India, other BRICS nations -- Brazil, Russia, China and South Africa -- cut down their holdings of American govt securities

India has trimmed its holdings of US government securities to $77.5 billion at the end of October even as the world's largest economy is expanding at a moderate pace.

Apart from India, other BRICS nations -- Brazil, Russia, China and South Africa -- cut down their holdings of American government securities.

Latest data from the US Treasury Department shows that India held securities worth $80 billion in September and further reduced its exposure to $77.5 billion in October -- which is also a three-month low.

In August, the holdings were to the tune of $80.4 billion while it stood at $79.7 billion in July.

Interestingly, BRICS bloc has reduced their exposure to these securities at a time when America's economic activity is expanding at a moderate rate.

While China remains the largest holder of American government securities, it cut down exposure to $1.25 trillion in October.

During the same period, Brazil and Russia slashed their holdings to $261.7 billion and $108.9 billion, respectively.

In October, South Africa brought down its holdings of US government securities to $10.3 billion.

The United States saw its real GDP increase at an annual rate of 3.9% in the three months ended September, according to official data released last month.