India's holdings of US securities touch 1-year high of $72.9 billion

Increasing its exposure, India held American government securities worth nearly $73 billion in June which is also the highest level in one year.

The holdings jumped by $2.9 billion from the previous month to touch $72.9 billion at the end of June. In May, the same stood at $70.1 billion.

The latest data from the US Treasury Department shows that India's holdings in June is also the highest in one year. In June 2013, the same stood at $61.2 billion.

In April, the holding stood at $68.7 billion.

Among the BRICS (Brazil, Russia, India, China and South Africa) grouping, all nations except China and South Africa increased their exposure to the US government securities.

China remained the biggest holder of such securities in June with holdings valued at $1.268 trillion even though it trimmed the exposure from $1.270 trillion in May.

In June, Brazil increased its exposure to $253.7 billion while that of Russia rose to $113.9 billion.

However, South Africa cuts its exposure to the US government securities with holding reduced to $14.4 billion in June.

In terms of overall exposure, Japan came second after China with holdings to the tune of $1.219 trillion.

"Foreign residents decreased their holdings of long-term US securities in June; net sales were $18.4 billion. Net sales by private foreign investors were $44.6 billion, while net purchases by foreign official institutions were $26.3 billion," the US Treasury Department said in a recent statement.