Remittance Inflow Surges by 30% 

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Remittance Inflow Surges by 30% 

 November 10:  The Nepal Rastra Bank has unveiled a report of the country's economic and financial status for the initial three months of the fiscal year 2023/2024.

According to data released by the central bank, remittance inflow has  surged by 30% during the first quarter of the current fiscal year, amounting to a total of Rs 365 billion. In comparison, the preceding year experienced a 16.8% growth in remittance inflow during the same period.

The central bank further reports an increase of 25.9% in remittance inflow denominated in US dollars, reaching a total of USD 2.76 billion. In the previous fiscal year, this inflow had expanded by 7.9%.

In terms of foreign employment, during this review period, 113,397 Nepali workers received final labour permits (both institutional and individual - new) for foreign employment.

 Additionally, 49,297 individuals renewed their labour permits for foreign employment. In the corresponding period of the previous year, these figures were 147,932 and 57,861, respectively.


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