KATHMANDU, Dec 13: Remittances amounting to Rs 521.63 billion have entered the country in the first four months of the current Fiscal Year (FY).
According to data released by Nepal Rastra Bank on Thursday, remittance inflows increased by 9.1 percent during this period. In contrast, remittance inflows had risen by 22.5 percent during the same period last FY. In terms of US dollars, remittance inflows reached USD 3.87 billion, compared to USD 3.60 billion in the previous FY.
Remittances provide temporary cushion to Nepal’s troubled econo...
Additionally, net secondary income (net transfers) for the review period amounted to Rs 568.26 billion, up from Rs 521.43 billion in the same period last FY.
Regarding foreign employment, 147,478 Nepali individuals received final labor approval (both institutional and individual new approvals) during the review period, while 94,105 individuals were granted re-entry labor approval. In the same period last FY, these numbers stood at 137,475 and 68,841, respectively.
