Business Standard

India's external debt rises 2.6% to $543 billion at March-end

Valuation gain because of the appreciation of the dollar vis-a-vis rupee and other major currencies was at $16.7 billion

rupee dollar

Anup Roy Mumbai
India’s external debt increased 2.6 per cent year-on-year at the end of fiscal year 2018-19, primarily on account of an increase in short-term debt, commercial borrowings and non-resident Indian (NRI) deposits. 

US dollar-denominated debt remained the largest component of the debt, with a share of 50.5 per cent at the end of March 2019, followed by the rupee (35.7 per cent), Japanese yen (5.0 per cent), special drawing right (4.9 per cent) and euro (3.0 per cent).

However, the increase in the external debt was “partially offset by valuation gain, resulting from the appreciation of the US dollar against the

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First Published: Jun 29 2019 | 2:16 AM IST

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