Foreign ownership of Australian government securities rose last quarter from a three-year low, even as the nation’s currency plunged by the most in almost five years.
Offshore holdings climbed to 69.1 percent of total outstanding debt as of June 30, up from 68.3 percent three months earlier, according to balance of payments data released today. Foreign holdings peaked at a record 76.1 percent in June 2012.
The Australian dollar plunged 12 percent in the three months through June, the most since the third quarter of 2008, while the country’s government debt lost 0.1 percent, according to Bank of America Merrill Lynch index data. U.S. Treasuries declined 2.2 percent in the period.
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