Valuation gain due to dollar strength helped rein external debt numbers for FY’2022-23 with India’s rising less than a percent during the year.
At end-March 2023, India’s external debt amounted to $ 624.7 billion, up S$ 5.6 billion over its level at end-March 2022. “ Excluding the valuation effect, external debt would have increased by $ 26.2 billion instead of $ 5.6 billion at end-March 2023 over end-March 2022” , the Reserve bank said in its latest release.
