India's external debt declines by 2.5 billion in Q1 FY23: Reserve Bank

"Excluding the valuation effect, external debt would have increased by USD 11.9 billion instead of a decrease of USD 2.5 billion at end-June 2022 over end-March 2022," the central bank said.

Published: 29th September 2022 08:04 PM  |   Last Updated: 29th September 2022 08:04 PM   |  A+A-

A guard at RBI office

The Reserve Bank of India. (File photo | PTI)

By PTI

MUMBAI: India's external debt during the first quarter of 2022-23 declined by USD 2.5 billion to USD 617.1 billion over the end-March 2022, the Reserve Bank said on Thursday.

The external debt to GDP ratio declined to 19.4 per cent at the end-June 2022 from 19.9 per cent at the end-March 2022.

"At end-June 2022, India's external debt was placed at USD 617.1 billion, recording a decrease of USD 2.5 billion over its level at end-March 2022," according to the RBI's data on India's External Debt as of end-June 2022.

Valuation gains due to the appreciation of the US dollar vis-a-vis the Indian rupee and major currencies, such as yen, SDR and euro were placed at USD 14.4 billion.

"Excluding the valuation effect, external debt would have increased by USD 11.9 billion instead of a decrease of USD 2.5 billion at end-June 2022 over end-March 2022," the central bank said.

At the end-June 2022, long-term debt (with an original maturity of above one year) was placed at USD 487.3 billion, recording a decrease of USD 10.6 billion over its level at the end-March 2022.

On the other hand, the share of short-term debt (with an original maturity of up to one year) in total external debt increased to 21 per cent at the end-June 2022 from 19.6 per cent at the end-March 2022.

US dollar-denominated debt remained the largest component of India's external debt, with a share of 54.7 per cent at the end-June 2022, followed by debt denominated in the Indian rupee (30.4 per cent), SDR (6.3 per cent), yen (5.1 per cent), and the euro (2.8 per cent).

The outstanding debt of the general government decreased, while non-government increased at end-June 2022.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp