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Nepal received Rs 1,532 billion in remittances during the first 11 months of the current fiscal year, according to the Current Macroeconomic and Financial Report released today.
The report, published by Nepal Rastra Bank, shows a 15.5% increase in remittance inflows compared to the same period last fiscal year when the growth rate stood at 17.2%.
From mid-May to mid-June alone, Nepal received Rs 176.32 billion in remittances, a significant rise from Rs 128.91 billion during the same period last year.
In U.S. dollar terms, remittance inflows rose by 12.7% to USD 11.25 billion during the review period, compared to a 15.2% increase in the corresponding period last year.
Net secondary income, which includes net transfers such as remittances, reached Rs 1,668 billion, up from Rs 1,443 billion in the same period of the previous fiscal year.
The report also highlights that 452,324 Nepali workers—both institutional and individual—received first-time approvals for foreign employment in the review period. Additionally, 308,067 workers were granted approvals for re-entry. In comparison, these figures stood at 421,356 and 261,210, respectively, during the same period last year.
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