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India's external debt declines to $491 billion at June-end: RBI

Decline in external debt was partly offset by valuation gains of $1.4 billion, triggered by an appreciation of the dollar

Reuters  |  MUMBAI 

India's end-June external debt stood at $479.7 billion, down by $5.4 billion from its March-end figures, being largely driven by the lower offshore borrowings by companies, the Reserve Bank of India (RBI) said on Friday. The decline in external debt was partly offset by valuation gains of $1.4 billion, due to appreciation of the dollar against the Indian rupee and other major currencies. Excluding the valuation effect, the decline in external debt would have been $4.0 billion, the RBI said in a statement. On a residual maturity basis, short-term debt constituted 42.4 percent ...

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First Published: Fri, September 30 2016. 18:22 IST
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