KATHMANDU: Gross foreign exchange reserves increased by 11.3 percent, reaching Rs. 2,979.81 billion in mid-October 2025, up from Rs. 2,677.68 billion in mid-July 2025. In US dollar terms, the reserves rose by 8.7 percent to $21.21 billion, compared to $19.50 billion in mid-July 2025.
Of the total reserves, the amount held by Nepal Rastra Bank grew by 10.5 percent to Rs. 2,667.7 billion in mid-October, up from Rs. 2,414.64 billion in mid-July. Reserves held by commercial banks and other financial institutions (excluding NRB) surged 18.7 percent to Rs. 312.1 billion from Rs. 263.04 billion during the same period. Indian currency accounted for 24 percent of the total foreign exchange reserves in mid-October 2025.
Based on import levels in the first three months of FY 2025/26, the banking sector’s reserves are sufficient to cover 19.9 months of merchandise imports and 16.4 months of combined goods and services imports.
As of mid-October 2025, the ratios of reserves to GDP, total imports, and broad money supply (M2) were 48.8 percent, 136.6 percent, and 36.8 percent, respectively, up from 43.8 percent, 128.1 percent, and 34.1 percent in mid-July 2025.
Comment