Remittances Inflow Surges to Rs 1327.51 Billion in Current FY

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Remittances Inflow Surges to Rs 1327.51 Billion in Current FY

KATHMANDU: Remittance inflow to Nepal in the first eleven months of the current fiscal year has reached Rs 1327.51 billion, according to the latest report of Nepal Rastra Bank (NRB).

The Current Macroeconomic and Financial Situation Report unveiled by the NRB on Wednesday mentions that the remittance inflow increased 19.3 percent in the review period compared to an increase of 22.7 percent in the same period of the previous year.

In the US Dollar terms, remittance inflows increased 17.3 percent to 9.98 billion in the review period compared to an increase of 13.0 percent in the same period of the previous year.

According to the NRB report, the number of Nepali workers, both institutional and individuals, taking first-time approval for foreign employment stood at 422,936 in the review period. Those taking approval for renew entry was 262,705. In the previous year, such numbers were 459,415 and 260,262 respectively.

Similarly, net transfer increased 17.3 percent to Rs 1443.06 billion in the review period. Such a transfer had increased 21.9 percent in the same period of the previous year, according to the report.

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