India's total external debt stood at USD 762.8 billion at the end of March 2026, registering an increase of USD 26.3 billion over the year-ago period, according to the RBI data released on Monday. Valuation effect due to the appreciation of the US dollar vis-a-vis the Indian rupee and other major currencies amounted to USD 24.6 billion, according to the data on 'India's External Debt as at the end of March 2026'. "Excluding the valuation effect, external debt would have increased by USD 51 billion instead of USD 26.3 billion at end-March 2026 over end-March 2025," the Reserve Bank of India said.