KATHMANDU: Remittance flow into the country is steadily rising although the number of Nepali migrants on foreign employment has declined.

According to data released by Nepal Rastra Bank (NRB) for the eight months of the current fiscal 2020/21 on Monday, remittance flow has increased by 8.6 percent while the number of Nepali migrant workers plummeted to below 75%.

In the first seven months of the current fiscal, approximately Rs 642 billion entered the country. Within the same period last fiscal, remittance flow had increased by only 1.5%. This year, remittance flow in American dollar has increased by 5% while it had increased only by 1.5% last year.

Within the first seven months of 2020/21 fiscal, Nepali migrants receiving work permit for foreign employment fell by 74.8%. In the corresponding period last fiscal, the same had increased by 24.2%.

Nepali migrants renewing work permit in the period went down by 65.25% while the same had declined by 2.7% last year.