KATHMANDU, March 11: Nepal received Rs 900.58 billion in remittance during the first seven months of the current fiscal year 2024/25.
According to the Current Macroeconomic and Financial Situation Report of Nepal released by Nepal Rastra Bank (NRB), remittance worth Rs 900.58 billion have been received during the period between mid-July 2024 and mid-February 2025.
Remittance inflow increases 27.1 percent in six months
This remittance amount has increased by 7.3 percent compared to the same period of the previous fiscal year 2023/24. In terms of US dollars, remittances increased by only 5.3 percent. In the month of mid-January to mid-February alone, remittances worth Rs 137 billion have been received.
Although the number of people going for foreign employment has increased, the growth rate of remittances has decreased. A total of 465,508 individuals have gone for foreign employment in the seven months.
Similarly, 274,622 people have gone abroad for the first time with work permits and 190,886 have renewed their work permits. Last year, the number of people who received first-time work permits in the seven months was 245,432 and the number of people who renewed their work permits stood at 157,445.
Meanwhile, this year, remittances of Rs 136.93 billion were received in mid-July to mid-August followed by Rs 126 billion in mid-August to mid-September; Rs 144 billion in mid-September to mid-October; Rs 114 billion in mid-October to mid-November, Rs 119 billion in mid-November to mid-December, and Rs 119 billion in mid-December to mid-January.
