3 BRICS Countries Dump $18.5 Billion in US Treasuries
BRICS members India, Brazil, and China are consistently dumping the US treasuries by offloading billions worth of government bonds. The trio are looking to keep the US dollar from ending on a high against their respective local currencies. The US dollar is now at a 10-month high against BRICS currencies and the developing nations are selling US treasuries to keep their currency from ending on a low. Also Read: 39 Countries Ready To Join BRICS in 2024 The rising US dollar is worrisome for BRICS as it impacts their import and export sector. Therefore, the trio of nations are now resorting to offloading US treasuries in a bid to safeguard their local currencies. 3 BRICS Countries Offload $18.5 Billion in US Treasuries in The Last 30 Days Source: Unsplash Firstly, BRICS member China dumped the highest in US treasuries last month by offloading $16.4 billion worth of government bonds. In addition, Chinese institutional investors sold another $5.1 billion in US stocks affectin...