Nepal receives Rs 477.96 billion in remittances in four months

Published On: December 14, 2023 08:03 PM NPT By: Republica | @RepublicaNepal

KATHMANDU, Dec 14: The country recorded a remittance inflow worth Rs 477.96 billion in a period of four months.

According to a report on the current macroeconomic and financial situation of Nepal based on the data ending in mid-November, remittance inflows increased by 26.4 percent to touch Rs 477.96 billion. There was an increase of 20.4 percent in the remittances flows in the corresponding period of the previous year.

In the US Dollar terms, remittance inflows increased 23.1 percent against 10.8 percent in the corresponding year to touch 3.60 billion in the review period.

The central bank published the report today.

Similarly, in the review period, the number of Nepali workers, both institutional and individual, taking first-time approval for foreign employment stands at 137,475 and taking approval for renew entry stands at 68,841. Last year, such numbers were 196,735 and 87,428 respectively. Net transfer increased 24.9 percent to Rs.521.40 billion in the review period. Such a transfer had increased 20.2 percent in the same period of the last fiscal year.