As reported by Biji.com, the latest data from ING shows that BRICS countries are gradually reducing their holdings of U.S. Treasury securities. In October alone, they sold $2.7 billion in U.S. Treasuries, with China selling $11–12 billion, India $12 billion, and Brazil $500 million. The move is part of a strategy to rebalance foreign exchange reserves with gold and local currencies. India's sales are linked to the rupee's decline, which has fallen over 5% against the dollar. Despite the sell-off, the U.S. Treasury remains stable due to private investors' continued demand for the dollar.
BRICS Nations Sell $2.7 Billion in U.S. Treasury Securities in October
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Summary
BRICS nations sold $2.7 billion in U.S. Treasury securities in October, with China, India, and Brazil leading the sell-off. The shift reflects a broader strategy to diversify reserves toward gold and local currencies. India’s sales coincide with rupee weakness, down over 5%. Although the move fuels the securities vs commodities debate, U.S. Treasury demand remains strong due to private buyers. Liquidity in crypto markets continues to rise amid global reserve adjustments.
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