Nepal received Rs 263.14 billion in remittance in the first two months, mid-July to mid-September, of the current fiscal year, according to the latest Nepal Rastra Bank’s report.
Remittance inflows increased 15.2 percent to Rs 263.14 billion in the review period compared to an increase of 18.7 percent in the same period previous year, says the country’s macroeconomic and financial report published on Tuesday, October 15.
Read: Consumer Price Inflation Moderates to 3.85 Percent in mid-September: NRB
In terms of US Dollar terms, remittance inflows reached $1.96 billion in the review period which was $1.73 billion in the same period previous year.
The data also show that the number of Nepalis taking first-time approval for foreign employment and Nepali migrant workers renewing their labour permits increased in the period.
Read: Current Account, BOP in Surplus until mid-September this FY
The number of Nepali workers, both institutional and individual, taking first-time approval for foreign employment stood at 76,485 in the first two months this year, compared to 74,455 in the same period last year. Similarly, a total of 40,583 Nepali workers renewed their foreign labour permits, compared to 32,004 in the same period last year.
Read: Nepal’s Trade Deficit Widens to Rs 237.45 billion in Two Months