KATHMANDU, June 10: Nepal's foreign exchange reserves have exceeded Rs 2500 billion.
According to the financial report published by Nepal Rastra Bank (NRB) for the first ten months of the current Fiscal Year (FY), the country's foreign exchange reserves stood at Rs 2512 billion as of mid-May. Compared to the end of the last FY, the reserves have increased by 23.1 percent.
Foreign exchange reserves surpass Rs 2426 billion
As of mid-May, Nepal's foreign exchange reserves stood at USD 18.4 billion, according to NRB. This marks a 20.5 percent increase compared to the end of last FY.
Out of the total reserves, Rs 2211 billion is held by NRB, while banks and financial institutions hold Rs 301.83 billion. Indian currency accounts for 21.2 percent of the total foreign exchange reserves.
Based on the import data of the first ten months of FY 2024/25, NRB has stated that the current foreign exchange reserves held by the banking sector are sufficient to cover 17.4 months of merchandise imports and 14.6 months of goods and services imports.
