KATHMANDU: The remittance has declined by 5.5 percent in the first six months of the current fiscal year.

According to Nepal Rastra Bank (NRB), the country received Rs.468.45 billion in remittances in the six months from mid-July to mid-January. This is 5.5 percent less than the remittance the country received in the same period in last fiscal year 2020/21. Last year the remittance had increased by 11 percent during this period.

Similarly, remittances received in US dollars also declined by 6.2 percent to Rs 3.93 billion in the past six months.

Interestingly, the number of Nepalis seeking final labor approval for foreign employment has increased significantly in the last six months, reaching 167,513. The number was 89 percent lower last year.

Similarly, the number of Nepalis seeking re-employment for foreign job market has increased by 298 percent in the last six months and reached 130,212.