BoP records deficit of Rs 288.50 billion in 10 months of this fiscal

KATHMANDU: The money exiting Nepal is found to be more than the money entering the country.

According to the macroeconomic and financial report published by Nepal Rastra Bank (NRB) on Friday, the Balance of Payments (BoP) remained at a deficit of Rs 288.50 billion in the first 10 months of the current fiscal 2021/22.

The same was in surplus of Rs.7.75 billion in the corresponding period of the previous year.

In terms of US Dollar, the BOP remained at a deficit of 2.41 billion till mid-May of running fiscal against a surplus of 55.4 million in the same period of the previous year.

Likewise, the current account remained at a deficit of Rs 547.36 billion in the review period compared to a deficit of Rs 251.29 billion in the same period of the previous year.

In the US Dollar terms, the current account registered a deficit of 4.57 billion in the review period compared to deficit of 2.14 billion in the same period last year.

Capital transfer decreased 41.3 percent to Rs.7.99 billion and net foreign direct investment (FDI) increased 18.2 percent to Rs.16.65 billion in the first 10 months of this fiscal.

In the same period of the previous year, capital transfer and net FDI amounted to Rs 13.62 billion and Rs 14.08 billion respectively.