Kathmandu, 9 December: Nepal Rastra Bank has said that remittances have increased by 30 percent. Releasing the first quarter review of monetary policy on Friday, Nepal Rastra Bank said that remittances have increased by 30 percent.
The bank has claimed that the significant increase in remittance inflow has helped to keep the current account and current account balance in surplus.
In the three months of the current financial year, the current account is Rs. 59 billion 90 million and the current account is in surplus by Rs. 99 billion 7 million.
During the same period of the previous financial year, the current account stood at Rs. 35 billion 24 crores in loss and the balance sheet is Rs. 12.43 billion in savings.
Due to the improvement in the current account situation, the foreign exchange reserves also improved and reached Rs. 1643 billion 90 million at the end of October 2080, which is enough to cover the import of goods and services for about 10.3 months.
People’s News Monitoring Service
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