India's external debt rose to $ 682.3 billion as of June 2024, up 2 percent over March 2024 and 8.5 percent over June 2023, data released by the Reserve Bank showed. But external debt to GDP ratio was lower at 18.8 per cent at end-June 2024 as compared with 18.9 per cent at end-March 2024. Valuation effect due to the appreciation of the US dollar vis-à-vis the Indian rupee and other major currencies such as yen, the euro and SDR2 amounted to $ 3.0 billion during the quarter ended June 2024. Excluding the valuation effect, external debt would have increased by $ 16.3 billion instead of $ 13.3 billion at end-June 2024 over end-March 2024.