Nepal’s current forex reserve is enough to pay imports of goods, service for 6.3 months: NRB

Imports soared by 38.6 percent, exports by 82.9 percent in the first eight months of the current fiscal year

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KATHMANDU, April 12: Nepal’s current foreign exchange reserve is enough to pay imports of goods and services for more than six months, according to a latest report of the Nepal Rastra Bank (NRB). 

According to the central bank, Nepal has a foreign reserve of 1,171 Arba dollar as of mid -March. The amount has decreased by 16.3 percent in the first eight months of the current fiscal year.

Likewise, imports soared by 38.6 percent and exports by 82.9 percent in the first eight months of the current fiscal year. 

Palm Oil, Soybean Oil, Fiber and Wool Carpet tops the list of most exported goods by Nepal while Petroleum products, medicines, raw materials for palm oil and soybean oil and gold are Nepal’s largest import.

 

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