June 9: The current account remained at a deficit of Rs 54.67 billion in the first ten months of the current fiscal year compared to a deficit of Rs 545.06 billion in the same period of the previous year.
According to the latest report of Nepal Rastra Bank (NRB), the current account in terms of the US dollar registered a deficit of 424.5 million in the review period compared to deficit of 4.55 billion in the same period last year.
In the review period, capital transfer decreased 20.5 percent to Rs 6.36 billion and net foreign direct investment (FDI) remained Rs 4.36 billion, according to the Current Macroeconomic and Financial Situation Report of NRB released on Friday.
In the same period of the previous year, capital transfer and net FDI amounted to Rs 7.99 billion and Rs 16.65 billion respectively.
The report stated that the country received the second installment of Extended Credit Facility (ECF) of Rs 6.88 billion (USD 52.71 million) from the IMF in the tenth month of FY 2022/23.
Meanwhile, the country’s Balance of Payments (BOP) remained at a surplus of Rs 214.67 billion in the review period compared to a deficit of Rs 288.50 billion in the same period of the previous year.
In terms of US dollar, the BOP remained at a surplus of 1.63 billion in the review period against a deficit of 2.41 billion in the same period of the previous year.