Reserves and external positions
US Treasury holdings and forward-dollar positions
US Treasury holdings and forward-dollar positions: $203 billion in July 2026
$203 billion
Data through
Notes
The table retains the source’s published periods. Missing observations are not zero and have not been interpolated.
Month-end US Treasury securities attributed to India. The source is based largely on custodians, so country attribution is not a precise measure of beneficial ownership.
Publication cadence: Monthly. Missing observations are not zero.
US Treasury holdings and forward-dollar positions · Usd billion
US Treasury holdings and forward-dollar positions · Usd billion: 175 observations shown, from 2012-01 through 2026-07.
| Period | US dollars |
|---|---|
| 2012-01 | $42.8 billion |
| 2012-02 | $44.1 billion |
| 2012-03 | $46.7 billion |
| 2012-04 | $49.3 billion |
| 2012-05 | $50 billion |
| 2012-06 | $53.8 billion |
| 2012-07 | $59.3 billion |
| 2012-08 | $60.6 billion |
| 2012-09 | $59.7 billion |
| 2012-10 | $59.6 billion |
| 2012-11 | $58.8 billion |
| 2012-12 | $59.5 billion |
| 2013-01 | $58.5 billion |
| 2013-02 | $56.8 billion |
| 2013-03 | $55 billion |
| 2013-04 | $55.8 billion |
| 2013-05 | $59.9 billion |
| 2013-06 | $61.2 billion |
| 2013-07 | $58.9 billion |
| 2013-08 | $57 billion |
| 2013-09 | $56.8 billion |
| 2013-10 | $59.9 billion |
| 2013-11 | $63.9 billion |
| 2013-12 | $68.5 billion |
| 2014-01 | $68.1 billion |
| 2014-02 | $67 billion |
| 2014-03 | $70.2 billion |
| 2014-04 | $68.7 billion |
| 2014-05 | $70.1 billion |
| 2014-06 | $72.9 billion |
| 2014-07 | $79.7 billion |
| 2014-08 | $80.4 billion |
| 2014-09 | $80 billion |
| 2014-10 | $77.5 billion |
| 2014-11 | $80.5 billion |
| 2014-12 | $83 billion |
| 2015-01 | $91.2 billion |
| 2015-02 | $102 billion |
| 2015-03 | $108 billion |
| 2015-04 | $110 billion |
| 2015-05 | $114 billion |
| 2015-06 | $117 billion |
| 2015-07 | $116 billion |
| 2015-08 | $116 billion |
| 2015-09 | $114 billion |
| 2015-10 | $117 billion |
| 2015-11 | $115 billion |
| 2015-12 | $117 billion |
| 2016-01 | $120 billion |
| 2016-02 | $119 billion |
| 2016-03 | $119 billion |
| 2016-04 | $122 billion |
| 2016-05 | $118 billion |
| 2016-06 | $117 billion |
| 2016-07 | $124 billion |
| 2016-08 | $123 billion |
| 2016-09 | $123 billion |
| 2016-10 | $123 billion |
| 2016-11 | $119 billion |
| 2016-12 | $118 billion |
| 2017-01 | $114 billion |
| 2017-02 | $112 billion |
| 2017-03 | $117 billion |
| 2017-04 | $124 billion |
| 2017-05 | $127 billion |
| 2017-06 | $130 billion |
| 2017-07 | $136 billion |
| 2017-08 | $139 billion |
| 2017-09 | $145 billion |
| 2017-10 | $141 billion |
| 2017-11 | $141 billion |
| 2017-12 | $145 billion |
| 2018-01 | $149 billion |
| 2018-02 | $153 billion |
| 2018-03 | $157 billion |
| 2018-04 | $153 billion |
| 2018-05 | $149 billion |
| 2018-06 | $147 billion |
| 2018-07 | $143 billion |
| 2018-08 | $141 billion |
| 2018-09 | $144 billion |
| 2018-10 | $138 billion |
| 2018-11 | $139 billion |
| 2018-12 | $141 billion |
| 2019-01 | $145 billion |
| 2019-02 | $144 billion |
| 2019-03 | $152 billion |
| 2019-04 | $155 billion |
| 2019-05 | $157 billion |
| 2019-06 | $163 billion |
| 2019-07 | $160 billion |
| 2019-08 | $162 billion |
| 2019-09 | $161 billion |
| 2019-10 | $161 billion |
| 2019-11 | $159 billion |
| 2019-12 | $162 billion |
| 2020-01 | $164 billion |
| 2020-02 | $178 billion |
| 2020-03 | $157 billion |
| 2020-04 | $157 billion |
| 2020-05 | $170 billion |
| 2020-06 | $183 billion |
| 2020-07 | $195 billion |
| 2020-08 | $197 billion |
| 2020-09 | $214 billion |
| 2020-10 | $222 billion |
| 2020-11 | $220 billion |
| 2020-12 | $216 billion |
| 2021-01 | $212 billion |
| 2021-02 | $204 billion |
| 2021-03 | $200 billion |
| 2021-04 | $209 billion |
| 2021-05 | $216 billion |
| 2021-06 | $220 billion |
| 2021-07 | $219 billion |
| 2021-08 | $217 billion |
| 2021-09 | $218 billion |
| 2021-10 | $211 billion |
| 2021-11 | $205 billion |
| 2021-12 | $199 billion |
| 2022-01 | $199 billion |
| 2022-02 | $200 billion |
| 2022-03 | $200 billion |
| 2022-04 | $199 billion |
| 2022-05 | $204 billion |
| 2022-06 | $209 billion |
| 2022-07 | $212 billion |
| 2022-08 | $221 billion |
| 2022-09 | $213 billion |
| 2022-10 | $213 billion |
| 2022-11 | $219 billion |
| 2022-12 | $224 billion |
| 2023-01 | $232 billion |
| 2023-02 | $231 billion |
| 2023-03 | $238 billion |
| 2023-04 | $239 billion |
| 2023-05 | $238 billion |
| 2023-06 | $235 billion |
| 2023-07 | $233 billion |
| 2023-08 | $233 billion |
| 2023-09 | $229 billion |
| 2023-10 | $222 billion |
| 2023-11 | $225 billion |
| 2023-12 | $234 billion |
| 2024-01 | $236 billion |
| 2024-02 | $235 billion |
| 2024-03 | $241 billion |
| 2024-04 | $234 billion |
| 2024-05 | $238 billion |
| 2024-06 | $242 billion |
| 2024-07 | $239 billion |
| 2024-08 | $246 billion |
| 2024-09 | $247 billion |
| 2024-10 | $241 billion |
| 2024-11 | $234 billion |
| 2024-12 | $219 billion |
| 2025-01 | $226 billion |
| 2025-02 | $228 billion |
| 2025-03 | $240 billion |
| 2025-04 | $233 billion |
| 2025-05 | $235 billion |
| 2025-06 | $227 billion |
| 2025-07 | $220 billion |
| 2025-08 | $219 billion |
| 2025-09 | $203 billion |
| 2025-10 | $190 billion |
| 2025-11 | $187 billion |
| 2025-12 | $183 billion |
| 2026-01 | $190 billion |
| 2026-02 | $191 billion |
| 2026-03 | $183 billion |
| 2026-04 | $181 billion |
| 2026-05 | $181 billion |
| 2026-06 | $186 billion |
| 2026-07 | $203 billion |
data.indiadispatch.com
US Treasury holdings attributed to India
| Period | Usd billion |
|---|---|
| July 2026 | $203 billion |
| June 2026 | $186 billion |
| May 2026 | $181 billion |
| April 2026 | $181 billion |
| March 2026 | $183 billion |
| February 2026 | $191 billion |
| January 2026 | $190 billion |
| December 2025 | $183 billion |
| November 2025 | $187 billion |
| October 2025 | $190 billion |
| September 2025 | $203 billion |
| August 2025 | $219 billion |
| July 2025 | $220 billion |
| June 2025 | $227 billion |
| May 2025 | $235 billion |
| April 2025 | $233 billion |
| March 2025 | $240 billion |
| February 2025 | $228 billion |
| January 2025 | $226 billion |
| December 2024 | $219 billion |
| November 2024 | $234 billion |
| October 2024 | $241 billion |
| September 2024 | $247 billion |
| August 2024 | $246 billion |
| July 2024 | $239 billion |
| June 2024 | $242 billion |
| May 2024 | $238 billion |
| April 2024 | $234 billion |
| March 2024 | $241 billion |
| February 2024 | $235 billion |
| January 2024 | $236 billion |
| December 2023 | $234 billion |
| November 2023 | $225 billion |
| October 2023 | $222 billion |
| September 2023 | $229 billion |
| August 2023 | $233 billion |
| July 2023 | $233 billion |
| June 2023 | $235 billion |
| May 2023 | $238 billion |
| April 2023 | $239 billion |
| March 2023 | $238 billion |
| February 2023 | $231 billion |
| January 2023 | $232 billion |
| December 2022 | $224 billion |
| November 2022 | $219 billion |
| October 2022 | $213 billion |
| September 2022 | $213 billion |
| August 2022 | $221 billion |
| July 2022 | $212 billion |
| June 2022 | $209 billion |
| May 2022 | $204 billion |
| April 2022 | $199 billion |
| March 2022 | $200 billion |
| February 2022 | $200 billion |
| January 2022 | $199 billion |
| December 2021 | $199 billion |
| November 2021 | $205 billion |
| October 2021 | $211 billion |
| September 2021 | $218 billion |
| August 2021 | $217 billion |
| July 2021 | $219 billion |
| June 2021 | $220 billion |
| May 2021 | $216 billion |
| April 2021 | $209 billion |
| March 2021 | $200 billion |
| February 2021 | $204 billion |
| January 2021 | $212 billion |
| December 2020 | $216 billion |
| November 2020 | $220 billion |
| October 2020 | $222 billion |
| September 2020 | $214 billion |
| August 2020 | $197 billion |
| July 2020 | $195 billion |
| June 2020 | $183 billion |
| May 2020 | $170 billion |
| April 2020 | $157 billion |
| March 2020 | $157 billion |
| February 2020 | $178 billion |
| January 2020 | $164 billion |
| December 2019 | $162 billion |
| November 2019 | $159 billion |
| October 2019 | $161 billion |
| September 2019 | $161 billion |
| August 2019 | $162 billion |
| July 2019 | $160 billion |
| June 2019 | $163 billion |
| May 2019 | $157 billion |
| April 2019 | $155 billion |
| March 2019 | $152 billion |
| February 2019 | $144 billion |
| January 2019 | $145 billion |
| December 2018 | $141 billion |
| November 2018 | $139 billion |
| October 2018 | $138 billion |
| September 2018 | $144 billion |
| August 2018 | $141 billion |
| July 2018 | $143 billion |
| June 2018 | $147 billion |
| May 2018 | $149 billion |
| April 2018 | $153 billion |
| March 2018 | $157 billion |
| February 2018 | $153 billion |
| January 2018 | $149 billion |
| December 2017 | $145 billion |
| November 2017 | $141 billion |
| October 2017 | $141 billion |
| September 2017 | $145 billion |
| August 2017 | $139 billion |
| July 2017 | $136 billion |
| June 2017 | $130 billion |
| May 2017 | $127 billion |
| April 2017 | $124 billion |
| March 2017 | $117 billion |
| February 2017 | $112 billion |
| January 2017 | $114 billion |
| December 2016 | $118 billion |
| November 2016 | $119 billion |
| October 2016 | $123 billion |
| September 2016 | $123 billion |
| August 2016 | $123 billion |
| July 2016 | $124 billion |
| June 2016 | $117 billion |
| May 2016 | $118 billion |
| April 2016 | $122 billion |
| March 2016 | $119 billion |
| February 2016 | $119 billion |
| January 2016 | $120 billion |
| December 2015 | $117 billion |
| November 2015 | $115 billion |
| October 2015 | $117 billion |
| September 2015 | $114 billion |
| August 2015 | $116 billion |
| July 2015 | $116 billion |
| June 2015 | $117 billion |
| May 2015 | $114 billion |
| April 2015 | $110 billion |
| March 2015 | $108 billion |
| February 2015 | $102 billion |
| January 2015 | $91.2 billion |
| December 2014 | $83 billion |
| November 2014 | $80.5 billion |
| October 2014 | $77.5 billion |
| September 2014 | $80 billion |
| August 2014 | $80.4 billion |
| July 2014 | $79.7 billion |
| June 2014 | $72.9 billion |
| May 2014 | $70.1 billion |
| April 2014 | $68.7 billion |
| March 2014 | $70.2 billion |
| February 2014 | $67 billion |
| January 2014 | $68.1 billion |
| December 2013 | $68.5 billion |
| November 2013 | $63.9 billion |
| October 2013 | $59.9 billion |
| September 2013 | $56.8 billion |
| August 2013 | $57 billion |
| July 2013 | $58.9 billion |
| June 2013 | $61.2 billion |
| May 2013 | $59.9 billion |
| April 2013 | $55.8 billion |
| March 2013 | $55 billion |
| February 2013 | $56.8 billion |
| January 2013 | $58.5 billion |
| December 2012 | $59.5 billion |
| November 2012 | $58.8 billion |
| October 2012 | $59.6 billion |
| September 2012 | $59.7 billion |
| August 2012 | $60.6 billion |
| July 2012 | $59.3 billion |
| June 2012 | $53.8 billion |
| May 2012 | $50 billion |
| April 2012 | $49.3 billion |
| March 2012 | $46.7 billion |
| February 2012 | $44.1 billion |
| January 2012 | $42.8 billion |
data.indiadispatch.com
RBI forward-dollar positions
| Period | Purchases | Sales | Net purchase | Outstanding net forward |
|---|---|---|---|---|
| July 2026 | $38.4 billion | $19.8 billion | $18.7 billion | −$137 billion |
| June 2026 | $30.9 billion | $30.3 billion | $561 million | −$103 billion |
| May 2026 | $22.2 billion | $28.3 billion | −$6.1 billion | −$107 billion |
| April 2026 | $16.2 billion | $25.2 billion | −$8.94 billion | −$95.3 billion |
data.indiadispatch.com
Source: US Department of the Treasury and Reserve Bank of India, India Dispatch Research
Cite this reading
India by the numbers, US Treasury holdings and forward-dollar positions, July 2026. $203 billion. Source: US Department of the Treasury and Reserve Bank of India. https://data.indiadispatch.com/world/us-treasuries-and-forwards
Published content updated . This is separate from the source observation period.
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