India’s holding of US government securities reached a record high of $241.9 billion in June, marking a third consecutive month of increased exposure. Japan led the pack with over $1.11 trillion, followed by China at $780.2 billion, and the United Kingdom at $741.5 billion.
Despite global economic uncertainties, India climbed to the 12th position among the top holders of American government securities. This figure represents a significant increase from $237.8 billion in May, marking the highest recorded value in the past year.
The latest data from the US Treasury Department also highlighted other prominent holders, including Canada, Cayman Islands, and Belgium. The global economy, amidst inflation and geopolitical tensions, saw a 2.8% expansion in the US real GDP for the June quarter.
As the International Monetary Fund (IMF) projected a 3.2% growth rate for the global economy in 2024, India’s strategic investment in US government securities demonstrates its economic resilience and strategic financial planning.
Published on 18 August 2024, 08:47 IST
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