Country receives 870.94 billion remittance in first 11 months of current FY

KATHMANDU, July 15: Nepal has received Rs 870.94 billion in remittance in the first 11 months of the current fiscal year.

“Remittance inflow increased by 12.6 per cent to Rs 642.14 billion in the review period compared to 3.2 per cent in the same period of the previous year," Nepal Rastra Bank (NRB) said.  

In terms of the USD, remittance inflow increased by 10.4 per cent to USD 7.39 billion in the review period such inflow was decreased by 5.2 per cent in the same period of the previous year,” the Nepal Rastra Bank (NRB) said on Thursday in its review of the current macroeconomic and financial situation of the country. 

The central bank said that the number of Nepali workers obtaining re-approval for foreign employment decreased by 47.1 per cent in the review period. It had decreased by 31.1 per cent in the same period of the previous year. 

The net transfer in the review period increased by 11.4 per cent and reached Rs 971 billion. This transfer had dropped by 3.9 per cent in the corresponding period of the previous year.