Remittance inflow rises by Rs. 19.2 percent

KATHMANDU: Nepal recorded a significant increase in remittance inflows in the fiscal year 2024/25, with a 19.2% rise compared to the previous year, according to data released by Nepal Rastra Bank.

Total remittances reached Rs. 1.723 trillion (Rs. 17 kharba 23 arba 27 crore). In the previous fiscal year, remittance inflows had grown by 16.5%.

In Asar (mid-June to mid-July) this year, Nepal received Rs. 189.11 billion in remittances, compared to Rs. 117.78 billion during the same month in the previous fiscal year.

When measured in US dollars, remittance inflows rose by 16.3%, reaching USD 12.64 billion, following a 14.5% increase the year before.

Additionally, net secondary income—which includes cash transfers like remittances—rose to Rs. 1.874 trillion in the review year, up from Rs. 1.571 trillion in the previous year.

Regarding foreign employment, 505,957 Nepalis received new final work permits (institutional and individual) in the review year, while 333,309 received re-entry permits. In the previous fiscal year, those figures were 460,102 and 281,195, respectively.