India's holding in US govt securities rises to $ 59.9 bn

India increased its exposure to American government securities to $59.9 billion in October, the highest in four months, notwithstanding uncertainties in the world's largest economy.

By hiking its holdings by as much as $3.1 billion in October, India has reversed the recent trend of trimming the exposure to US treasury bills.

In October, the country's exposure stood at $59.9 billion, one of the lowest among BRICS nations, compared to $56.8 billion-worth holdings in September, according to latest data from the US Treasury Department.

In the same month, the United States had witnessed a standoff between Democratic and Republican lawmakers over budget that even paralysed functioning of the American government.

India's exposure to these securities in August stood at $57 billion, lower than $58.9 billion in the previous month. The same touched $61.2 billion in June this year.

China remains the largest holder of American debt, with holdings worth over $1.30 trillion in October, followed by Japan with securities to the tune of $1.17 trillion.

Among the BRICS, Brazil had the second highest exposure at $246.7 billion while that of Russia stood at $149.9 billion in October.

BRICS is a grouping of five nations -- Brazil, Russia, India, China and South Africa. South Africa's holding of American government securities touched $10.6 billion in October.

The American economy is on the recovery path and its GDP grew 3.6 per cent in the third quarter of 2013.