Kathmandu, June 10: Nepal’s foreign exchange reserves have reached a record high, according to the latest data released by the central bank.
The Nepal Rastra Bank said total foreign exchange reserves stood at Rs 3.704 trillion as of mid-May (end of Baisakh), marking the highest level ever recorded.
In US dollar terms, the reserves amounted to $24.19 billion. The central bank stated that the current reserve level is sufficient to finance approximately 19.2 months of merchandise and services imports.
Compared to the same period last year, foreign exchange reserves increased by 38.3 percent.
The Nepal Rastra Bank attributed the growth to improvements in remittance inflows, tourism earnings, and other external sector indicators, which have strengthened the country’s external position.
People’s News Monitoring Service
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