Remittance Inflow Declines by 6.8 Percent

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Remittance Inflow Declines by 6.8 Percent

January 14: Remittance inflow into the country has declined in the past five months of the current fiscal year compared to the corresponding period of the last fiscal year, according to Nepal Rastra Bank (NRB).

The Current Macroeconomic and Financial Situation Report released by the central bank on Thursday states that remittance inflow decreased 6.8 percent to Rs 388.58 billion in the review period against an increase of 11.0 percent in the same period of the previous year.

“In the US Dollar terms, remittance inflows decreased 7.3 percent to 3.26 billion in the review period against an increase of 6.4 percent in the same period of the previous year,” the report based on first months of the current fiscal year states.    

Similarly, the central bank said that the number of Nepali citizens taking approval for foreign employment increased significantly to 131,082 in the review period. It had decreased by 92.7 percent in the same period of the previous year.

According to the NRB, the number of Nepali workers (renew entry) taking approval for foreign employment increased 295.8 percent to 99,580 in the review period. It had decreased 77.3 percent in the same period of the previous year.    

 

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