Kathmandu: The inflow of remittance in Nepal over the past nine months has reached Rs 1,191 billion 310 million, marking a 10 percent increase compared to the corresponding period last year. This growth follows a 17.2 percent rise in remittance inflow recorded during the previous fiscal year.
According to National News Agency Nepal, the rise in remittance inflow in USD terms has been noted at 7.3 percent. “Remittance inflows increased 10.0 percent to Rs1191.31 billion in the review period compared to an increase of 17.2 percent in the same period of the previous year. In the US Dollar terms, remittance inflows increased 7.3 percent to 8.74 billion in the review period compared to an increase of 15.2 percent in the same period of the previous year,” the Nepal Rastra Bank (NRB) stated in its report on the Macroeconomic and Financial Situation of Nepal, based on nine months of data ending mid-April 2024/25.
Additionally, the net secondary income, or net transfer, reached Rs.1301.94 billion in the review period, compared to Rs.1174.54 billion in the same period the previous year. The number of Nepali workers, both institutional and individual, receiving first-time approval for foreign employment was recorded at 358,222, while those taking approval for re-entry totaled 249,652. The previous year’s figures for these categories were 327,842 and 211,226, respectively.