New Delhi, April 1 -- India's external debt reached USD 717.9 billion by the end of December 2024, marking a 10.7 per cent increase from USD 648.7 billion in December 2023, according to the latest data from the Finance Ministry.

On a quarterly basis, the external debt rose by 0.7 per cent from USD 712.7 billion in September 2024. The external debt-to-GDP ratio stood at 19.1 per cent in December, compared to 19 per cent in the previous quarter.

A significant portion of this increase is attributed to valuation effects arising from the appreciation of the US dollar against the rupee and other major currencies, including the yen, euro, and Special Drawing Rights (SDR).

This valuation effect contributed an additional USD 12.7 billion to the...