Kathmandu: Remittance inflows into Nepal increased significantly during the first seven months of the current fiscal year 2082/83, reaching Rs 1.261 trillion, which represents a 39.8 percent rise compared to the same period last year.
According to the current macroeconomic and financial situation report released by the country’s central bank based on data up to mid-Magh of FY 2082/83, remittance inflows have shown a notable increase during this period.
During the same period of the previous fiscal year, remittance inflows had grown by only 7 percent. The report states that Rs 198.08 billion in remittances entered the country in the month of Magh alone.
In the same month last year, the remittance inflow stood at Rs 137.50 billion. By the end of Magh this fiscal year, remittance inflows measured in US dollar terms increased by 33 percent, reaching USD 8.86 billion.
During the review period, net secondary income (net transfers) reached Rs 1.384 trillion, compared to Rs 986.34 billion recorded in the same period of the previous fiscal year.
Similarly, the Nepal Rastra Bank reported that 245,153 Nepalis obtained final labour approval (both institutional and individual – new) for foreign employment during the period, while 227,424 workers received re-entry labour approval.
Comments