It wouldn’t be disastrous, but why would you?

Exterior paints are created to combat the elements. Ergo they have the additives desired for this purpose. They can be dirt resistant, crack resistant, flaking resistant, and weather resistant! They are compiled to combat temperature changes, humidity and freeze. 

The pigmentation of exterior paint is much more suited to the outdoors. Any components known to fade under UV rays for example, will be avoided.

Exterior paints have binders aimed to repel cracking and blistering brought on by weathering and work hard to ensure moisture does not soak into the substrate.