KATHMANDU, JULY 8
Nepal received Rs 1,532 billion in remittances over the first 11 months of the current fiscal year, marking a 15.5% year-on-year increase, according to the Current Macroeconomic and Financial Situation report released on Monday.
According to the NRB report, during the mid-May to mid-June period alone, remittance inflow stood at Rs 176.32 billion, up from Rs 128.91 billion in the same period last year. In US dollar terms, inflow rose by 12.7% to USD 11.25 billion during the review period, compared to a 15.2% rise a year ago.
Net secondary income (net transfers) reached Rs 1,668 billion, up from Rs 1,443 billion last fiscal year.
The report also shows that 452,324 Nepalis received first-time approvals for foreign employment, while 308,067 secured approval for re-entry. Last year, the figures stood at 421,356 and 261,210 respectively.
