Remittance Inflow Surges Nearly 40% in First Seven Months of Fiscal Year 2082/83

Kathmandu. Remittance inflow has increased by 39.8 percent to NPR 1.261 trillion in the first seven months of the current fiscal year 2082/83.

According to the report on the Current Economic and Financial Situation of the Country based on data from the first seven months of the current fiscal year 2082/83 (up to Magh 2082), published by the central bank today, the remittance inflow has shown a significant rise. In the same period last year, remittance inflow had increased by seven percent.

The report mentions that remittances worth NPR 198.08 billion flowed in during the month of Magh alone. In the same month last year, remittance inflow was NPR 137.50 billion.

As of the end of Magh, remittance inflow in US dollars increased by 33 percent to $8.86 billion. During this period, net secondary income (net transfer) reached NPR 1.38427 trillion. In the same period last year, such income was NPR 986.34 billion.

Similarly, the central bank stated that during this period, the number of Nepalis taking final work permits (institutional and individual–new) for foreign employment was 245,153, and the number taking re-entry permits was 227,424.