India is following in the footsteps of most other BRICS countries to decrease its share in the U-S sovereign debt. It is instead boosting its bullion reserves. The Reserve Bank of India purchased 8-point-46 metric tons of the precious metal in the last fiscal year which ended in March. The latest figures provided by the U-S treasury show India's holding of American sovereign debt went down from 157 billion dollars in March to about 150 billion by May.

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