KATHMANDU: Nepal received remittance inflows worth Rs 352.08 billion in the first two months of the current fiscal year, marking a 33.1 percent increase compared to the same period last year, according to the Nepal Rastra Bank (NRB).
In its report on the current economic and financial situation released on Tuesday, NRB noted that remittance income has continued to grow after a 15.8 percent rise during the same period last fiscal year. During mid-August to mid-September (Bhadau month), remittance inflows stood at Rs. 174.67 billion, up from Rs 127.99 billion a year earlier.
In US dollar terms, remittance inflows grew by 27.6 percent, reaching USD 2.52 billion, compared to a 14.2 percent rise during the same period last year.
The report also shows that net secondary income (net transfers) amounted to Rs 384.88 billion, up from Rs 287.76 billion last year.
During the review period, 90,198 Nepalis obtained new labor approvals (institutional and individual), while 45,884 received re-approvals for foreign employment. These figures were 76,485 and 40,583 respectively in the corresponding period last fiscal year.
Comment