KATHMANDU, Dec 13: The foreign exchange reserves have reached Rs 2.255 trillion. According to the data released by Nepal Rastra Bank (NRB) for the first four months of the current fiscal year, the foreign exchange reserves have increased by 10.5 percent.
As of mid-July, total foreign exchange reserves were valued at Rs 2.41 trillion. By mid-November, this figure had increased to Rs 2.255 trillion. In US dollar terms, reserves rose from USD 15.27 billion in mid-July to USD 16.70 billion by mid-November, reflecting a 9.4 percent increase.
Foreign exchange reserves exceeds Rs 1.8 trillion
Out of the total foreign exchange reserves, those held by NRB were valued at Rs 1.848 trillion in mid-July. By mid-November, NRB's reserves grew by 8.6 percent to reach Rs 2.818 trillion.
Foreign exchange reserves held by banks and financial institutions (excluding NRB) stood at Rs 192 billion in mid-July, and by mid-November, they had increased by 28.4 percent to reach Rs 247 billion. At mid-November, Indian currency accounted for 22 percent of the total foreign exchange reserves.
Based on the imports for the first four months of the fiscal year 2024/25, the foreign exchange reserves with the banking sector appear sufficient to cover 18 months of goods imports and 15.1 months of goods and services imports.
