KATHMANDU, June 10: Remittance inflow reached Rs 165.30 billion in a single month in Nepal. According to data from Nepal Rastra Bank, a record-breaking amount of remittance was received in Baisakh (mid-April to mid-May).
This is the highest-ever remittance inflow recorded in a single month. With this, the total remittance received in the first 10 months of the current Fiscal Year 2024/25 has reached around Rs 1356 billion. This is 13.2 percent more compared to the same period of the previous FY. The remittance growth during the same period last year was 16.9 percent.
414 foreign nationals receive work permits in Nepal in five mon...
This year, compared to Chaitra (mid-March to mid-April), remittances increased by 42.51 percent in Baisakh. In Chaitra, the remittance inflow was Rs 115.99 billion.
In Baisakh of the previous FY, only Rs 115.99 billion had been received. In terms of US dollars, remittance inflow increased by 10.5 percent, reaching USD 9.96 billion. In the previous year, the increase was 14.8 percent.
Similarly, 685,924 youths have gone abroad for foreign employment in the ten months of the current FY. Of them, 405,610 received final labor approval, while 280,314 obtained re-approval to work abroad.
The number of people going for foreign employment this year has increased by 76,219 compared to the same period last year. In the first 10 months of the previous FY, 609,705 youths had gone abroad for employment.
With a 12.5 percent increase in youth going abroad, remittance inflow has increased by 13.2 percent.
