Remittance inflows to Nepal surged by 13.2 percent in the first ten months of the current fiscal year, reaching Rs 1,356.61 billion, according to the latest macroeconomic update released by Nepal Rastra Bank (NRB) on Tuesday, June 10.

The report, based on data from mid-July 2024 to mid-May 2025, highlights remittances as the country's largest source of foreign exchange. Despite the growth, the rate of increase slowed compared to the 16.9 percent rise recorded during the same period last fiscal year.

Monthly data also points to robust inflows. In Baisakh, 2082 (mid-April to mid-May 2025), remittances totaled Rs 165.30 billion, a sharp rise from Rs 115.99 billion during the same month a year earlier.

In US dollar terms, remittances reached $9.96 billion during the review period, marking a 10.5 percent year-on-year increase. This was slightly below the 14.8 percent growth rate seen in the same period previous fiscal year.

Net secondary income—which includes net transfers—stood at Rs 1,479.08 billion, up from Rs 1,301.75 billion during the same period last year.

Foreign labor migration, a key driver of remittance income, also went up in the period. A total of 405,610 Nepali workers—both institutional and individual—received first-time approvals for foreign employment during the period, while an additional 280,314 were granted re-entry approvals. These figures represent an increase from the previous year’s 373,307 and 236,398, respectively.