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Informist, Monday, Sept. 30, 2024

--RBI: India external debt at $682.3 bln as on Jun 30, up 8.5% YoY 

NEW DELHI – India's external debt rose 8.5% on year to $682.3 billion as of Jun. 30, data released by the Reserve Bank of India showed Monday. The external debt as a percentage of GDP declined to 18.8% at the end of June from 18.9% as of Mar. 31.

The valuation effect due to the appreciation of the dollar against the rupee and other major currencies such as yen, the euro, and Special Drawing Rights amounted to $3.0 billion during Apr-Jun, the RBI said. "Excluding the valuation effect, external debt would have increased by $16.3 billion instead of $13.3 billion at end-June over end-March," the central bank said.

Of the total debt, $549.6 bln, or 80.6%, was long-term debt and $132.7 billion, or 19.4%, was short-term, the data showed. The ratio of short-term debt to foreign exchange reserves increased to 20.3% at the end of June from 19.7% a quarter ago.

Dollar-denominated debt remained the largest component of India's external debt at 54.6% as of Jun. 30, followed by rupee-denominated debt at 31.2%, and yen-denominated debt at 5.4%. Loans accounted for the largest component of external debt with a share of 33.0%, followed by currency and deposits at 23.5%, trade credit and advances at 18.6%, and debt securities at 17.1%, the central bank said.  End

US$1 = INR 83.79 

Reported by Shubham Rana

Edited by Manisha Baxla

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