Redemption pressure of Short-term debt to add to RBI's forex management challenges

About 43.1 percent or $267 billion worth of external debt of the $620.7 billion amounting to 44 percent of country’s foreign exchange reserves comes up for maturity this fiscal, according RBI's latest data on India's external debt as of Mrach'22. Though some amounts will be rolled over, given the slow pace of reserves pile-up, this will be an additional challenge for the Reserve Bank to manage reserves and dollar levels.

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