KATHMANDU, May 12: Despite massive efforts made by the government to check financial outflows, the country’s foreign currency reserves increased by nominal amounts in the past one month from mid-March to mid-April.
KATHMANDU, April 29: At a time when the country’s foreign reserves are declining, the commitment for foreign direct investment (FDI) has increased, according to the Department of Industry. In the past nine months of the current fiscal year, more than Rs 33 billion of FDI has been approved.
KATHMANDU, April 27: The government has imposed a total ban on the import of 10 different types of luxurious goods until mid-July 2022. The goods whose import has been banned include cigarettes and tobacco related products, diamonds, mobile phone sets, color TV’s with screens bigger than 32 inches, automobiles except for ambulances and hearses, motorcycles above 250cc, toys of all kinds, alcoholic beverages and playing cards.
KATHMANDU, April 7: Nepal Rastra Bank (NRB) Spokesperson Gunakar Bhatta has said that the government has decided to stop the import of luxury items to prevent the decline of the foreign exchange (forex) reserves of the country.
KATHMANDU, Jan 23: The Nepal Rastra Bank (NRB) has lowered the limit for purchase of US dollars for Nepalis going abroad for employment as part of its measures to check depletion of the country's foreign exchange (forex) reserve.
KATHMANDU, May 15: Nepal Rastra Bank (NRB) has instructed all bank and financial institutions (BFIs), money changers, remittance companies, money changers, hoteliers, travel and trekking agencies and cargo companies, among other firms who provide foreign exchange service, to submit monthly reports to the central bank electronically.