Foreign exchange reserves exceeds Rs 1.8 trillion

Published On: February 6, 2024 06:43 PM NPT By: Republica  | @RepublicaNepal


Foreign exchange reserves exceeds Rs 1.8 trillion

KATHMANDU, Feb 6: The country's foreign exchange reserves have exceeded Rs 1.816 trillion

According to the financial statement for six months of the current Fiscal Year (FY) published by Nepal Rastra Bank (NRB), the total foreign currency reserves equal to Rs 1.816 trillion till mid-January.

According to the NRB, such reserves are 13.69 billion in US dollars. Foreign exchange reserves have increased by 18 percent compared to mid-July.

Till mid-July, a total of Rs 1.539 trillion in foreign currency had been accumulated, showing a robust growth of 16.9 percent in US dollar terms.

According to the NRB, the current reserves will cover 14.5 months of goods imports and 12.1 months of goods and services imports if the current import base is considered.

Further details reveal that out of the total foreign exchange reserves, NRB holds Rs 1.623 trillion, while banks and financial institutions account for Rs 216.35 billion.

 

Leave A Comment

Just In