Remittance inflows into Nepal reached Rs 1,532.93 billion in the first eleven months of the current fiscal year, marking a 15.5 percent rise compared to the same period last year, according to the latest report of Nepal Rastra Bank(NRB).

The central bank reported that Nepal received Rs 176.32 billion in remittances during the month of Jestha alone (mid-May to mid-June), up from Rs 128.91 billion in the corresponding month of the previous year.

In US dollar terms, remittance inflows rose by 12.7 percent to USD 11.25 billion during the review period, states the Current Macroeconomic and Financial Situation Report released by the central bank on Tuesday.

According to NRB, a total of 452,324 Nepali workers, both institutional and individual, received first-time approvals for foreign employment, while 308,067 were granted approvals for renewal of work permits during the review period. These figures are up from 421,356 and 261,210, respectively, in the same period last year.

The report also noted that net secondary income—comprising net transfer receipts such as workers’ remittances, pension receipts, and other personal transfers—reached Rs 1,668.30 billion in the review period, compared to Rs 1,443.10 billion a year earlier.

Remittances—largely driven by foreign employment—continue to play a vital role in sustaining Nepal’s economy, contributing significantly to household income, consumption, and foreign exchange reserves.

According to the central bank’s report, the country’s gross foreign exchange reserves increased 25.9 percent to Rs 2569.38 billion in mid-June 2025 from Rs 2041.10 billion in mid-July 2024.

Of the total foreign exchange reserves, the reserves held by NRB increased 23.0 percent to Rs 2274.47 billion in mid-June 2025 from Rs 1848.55 billion in mid-July 2024. Reserves held by banks and financial institutions (except NRB) increased 53.2 percent to Rs 294.92 billion in mid-June 2025 from Rs 192.55 billion in mid-July 2024.

According to NRB, the foreign exchange reserves of the banking sector is sufficient to cover the prospective merchandise imports of 17.6 months, and merchandise and services imports of 14.7 months.