India offloading US Treasuries to support national currency & buy gold

India offloading US Treasuries to support national currency & buy gold

The Reserve Bank of India (RBI) is cutting down on its holding of US Treasuries, joining many other emerging economies which have been off loading their stock of US debt amid rising rates. The country’s share of US sovereign debt saw a gradual decline from $157 billion in March to $140 billion as of the end of August, according to the latest US Treasury report.

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