Money & Finance

Nepal has received Rs378.04 billion in remittances in the first four months of the current fiscal year, more than 20 per cent up as compared to the same period last year

“In the US Dollar terms, remittance inflows increased 10.8 per cent to $2.93 billion in the review period against a decrease of 7.3 per cent in the same period of the previous year,” the Nepal Rastra Bank said in a periodic bulletin.

Issuing a current macroeconomic and financial situation based on the first four months of the current fiscal year, the central bank has stated that the number of Nepali workers (institutional and individual-new) taking approval for foreign employment increased 102.5 percent to 195,196 in the review period. 

The number of Nepali workers (Renew entry) taking approval for foreign employment rose 46.4 per cent to 87,428 in the review period. It had increased 249.1 per cent in the same period the previous year.

Likewise, the Balance of Payments (BOP) has remained at a surplus of Rs 20.03 billion in the review period compared to a deficit of Rs150.38 billion in the previous year. 

However, the current account has remained at a deficit of Rs35.40 billion in the review period compared to a deficit of Rs220.91 billion in the previous year, according to the central bank.

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