KATHMANDU: Nepal’s foreign exchange reserves have surpassed Rs 2.56 trillion, according to the latest data published by Nepal Rastra Bank (NRB).
As of the end of mid-June (Jestha), the country’s foreign reserves stood at Rs 2.569 trillion, marking a significant increase from the previous fiscal year.
This level of reserves is sufficient to cover 14.7 months of total imports of goods and services, and 17.6 months of merchandise imports alone, the central bank said.
In mid-July 2024, total foreign exchange reserves were recorded at Rs 2.041 trillion. Over the course of 11 months, this figure rose by 25.9 percent, reflecting improved external sector stability.
In terms of U.S. dollars, Nepal’s foreign exchange reserves reached $18.65 billion, up from $15.27 billion recorded at the end of July 2024. This represents a substantial gain, supported largely by a strong inflow of remittances and a decline in imports.
According to NRB, the current reserves account for 42.1 percent of the country’s gross domestic product (GDP), 122.9 percent of total imports, and 34.1 percent relative to broad money supply.
Comment