KATHMANDU: Nepal has received Rs. 1082.62 billion in remittances over the past nine months, as per the latest report from the Nepal Rastra Bank (NRB).
The Current Macroeconomic and Financial Situation of Nepal report, covering the nine-month period ending mid-April 2023/24, reveals a 19.8 percent increase in remittance inflows compared to the same period last year.
This growth is slightly lower than the 24.2 percent increase observed in the previous year.
In terms of US Dollars, remittance inflows amounted to $8.15 billion, marking a 17.7 percent increase during the review period, compared to a 13.9 percent increase in the previous year.
During this period, 329,422 Nepali workers, including both institutional and individual, received first-time approval for foreign employment, while 212,721 obtained approval for re-entry.
This indicates a slight decrease from the previous year’s figures of 387,839 and 217,959, respectively.
Additionally, net transfers surged by 17.8 percent to reach Rs. 1174.50 billion during the review period, albeit at a slower pace compared to the 22.8 percent increase observed in the same period of the previous year.
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