KATHMANDU: Nepal received nearly Rs 900 billion in remittances during the first five months of the current fiscal year, reflecting a strong rise in inflows from overseas employment.
According to a report released by Nepal Rastra Bank (NRB) on Friday, remittance inflows increased by 35.6 percent to reach Rs 870.31 billion during the first five months of FY 2025/26. In the same period last year, remittances had grown by just 4.7 percent.
In US dollar terms, remittance inflows rose by 29 percent to USD 6.16 billion, compared to a growth of 3.4 percent in the corresponding period of the previous fiscal year.
During the review period, net secondary income reached Rs 954.78 billion, up from Rs 700.43 billion in the same period last year.
The central bank also reported changes in foreign employment trends. In the first five months of the fiscal year, 175,591 Nepalis obtained new final labor approvals (institutional and individual) for foreign employment, while 163,924 workers renewed their labor approvals.
In the same period last year, the numbers stood at 190,384 new approvals and 135,425 renewals, respectively.
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