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India held American government securities worth $70.1 billion in May, increasing its exposure to one of the highest levels so far this year.
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This is the second time in more than one year that India's holding has crossed the $70 billion mark after March 2014 when the exposure stood at $70.2 billion.
All BRICS nations, excluding Russia, increased their holdings of US Treasury securities in May. China remained the biggest holder of these bills with exposure worth $1.271 trillion during that month.
Latest data from the US Treasury Department show that India's exposure to American government securities stood at $70.1 billion in May, higher than $68.7 billion seen in April.
The month of May also saw the new Indian government, headed by Prime Minister Narendra Modi, taking charge after a landslide victory in the general elections.
In March, India held US securities to the tune of $70.2 billion, more than $67 billion exposure recorded in February while holdings had touched $68.1 billion in January.
Brazil, Russia, India, China and South Africa make up the five-nation BRICS grouping.
In May, Brazil held US government securities worth $250.1 billion while that of Russia and South Africa stood at $111.4 billion and $15.4 billion, respectively.
"Foreign residents increased their holdings of long-term US securities in May; net purchases were $34.6 billion.
Net purchases by private foreign investors were $10.2 billion, while net purchases by foreign official institutions were $24.4 billion," the Treasury Department said in a statement this week.
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