India: End-March external debt rises to $485.6 bln from year ago
Thu Jun 30 2016
Rajesh Sharma (2003 articles)

India: End-March external debt rises to $485.6 bln from year ago

MUMBAI India’s end-March external debt was at $ 485.6 billion, up $ 10.6 billion from end-March 2015, the Reserve Bank of India said in a release on Thursday.

The figure was up $ 5.4 billion from the $ 480.2 billion registered at end-December 2015.

The increase in external debt was mainly due to a rise in non-resident Indian deposits, but was partly offset by valuation gains resulting from the appreciation of the dollar versus the rupee and other major currencies.

The share of short-term debt residual maturity to India’s forex reserves stood at 42.6 percent of the total external debt at end-March, compared with 38.2 percent at end-March 2015, the RBI said.

(Reporting by Suvashree Dey Choudhury, Swati Bhat, and Abhirup Roy; Writing by Rafael Nam; Editing by Subhranshu Sahu)

Rajesh Sharma

Rajesh Sharma

Rajesh Sharma is Correspondent for Stock Market of South East Asia based in Mumbai. He has been covering Asian markets for more than 5 years.

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