KATHMANDU, Dec 14: Foreign exchange reserves have seen a 10.2 percent increase in the first four months of the current fiscal year. This has been attributed to a decline in imports and substantial growth in remittances.
The total foreign exchange reserve, which was Rs 1.539 trillion in mid-July, surged by 10.2 per cent to reach Rs 1.696 trillion in mid-November.
Foreign exchange reserves reach Rs 2.255 trillion
According to Nepal Rastra Bank (NRB), foreign exchange reserves in US dollars have risen by 8.9 per cent, reaching USD 12.75 billion in mid-November, compared to USD 11.71 billion in mid-July.
Of the total foreign reserves, those in NRB increased from Rs 1.345 trillion in mid-July to Rs 1.490 trillion in mid-November.
The foreign exchange reserves held by other banks and financial institutions were Rs 193.59 billion in mid-June, and as of mid-November, they stand at Rs 205.95 billion.
The Indian currency constitutes 21.8 per cent of the total foreign reserves as of mid-November.
