Valuation gains due to the appreciation of the US dollar vis-à-vis major currencies such as the euro, yen and Indian rupee was placed at USD 10.6 billion.India’s external debt stood at USD 610.5 billion in the second quarter of 2022-23, down by USD 2.3 billion from end-June 2022, the finance ministry said on Thursday. The external debt to GDP ratio stood at 19.2 per cent as at end-September 2022 as compared to 19.3 per cent at end-June. “At end-September 2022, India’s external debt was placed at USD 610.5 billion, recording a decrease of USD 2.3 billion over its level at end-June 2022,” it said.At end-September 2022, long-term debt (with original maturity of above one year) was placed at USD 478.7 billion, recording a fall of USD 8 billion over its level at end-June 2022, it said.India, as G20 president, can put in place a resilient green model: UN under secretary-generalAlso ReadCurrent account deficit widens to 4.4% of GDP in Q2On the other hand, the share of short-term debt (with an original maturity of up to one year) in total external debt increased to 21.6 per cent at end-September 2022 from 20.6 per cent in the previous quarter. US dollar denominated debt remained the largest component of India’s external debt, with a share of 55.5 per cent at end-September 2022, followed by the Indian rupee (30.2 per cent), Special Drawing Rights (SDR) (6.1 per cent), yen (4.9 per cent), and the euro (2.6 per cent), it said.
This article was originally published by Financial Express.