Nepal earns Rs 613.25 billion in remittance in first five months of current FY

Published On: January 12, 2024 03:00 PM NPT By: Republica  | @RepublicaNepal


Nepal earns Rs 613.25 billion in remittance in first five months of current FY

KATHMANDU, Jan 12: Nepal has recorded a substantial increase in remittance earnings, amounting to Rs 613.250 billion in the first five months of the current fiscal year 2023/24, as revealed by the Nepal Rastra Bank (NRB).

This figure marks a notable surge of 27 percent compared to the corresponding period in the fiscal year 2022/23.

When calculated in US dollars, the remittance earnings show a growth of 24.5 percent to 4.62 billion in the review period compared to an increase of 13.1 percent in the same period of the previous year.

Additionally, NRB reports that 173,555 individuals have obtained approval for foreign employment, while 104,037 have renewed their permits in the first five months of the current fiscal year. These numbers indicate a decrease from the figures recorded in the same period last year, which were 236,779 and 115,948, respectively.

 

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