Nepal’s current account at surplus of Rs 179bn, BOP at surplus of Rs 365bn

KATHMANDU: Nepal's current account maintained a surplus of Rs 179.48 billion in the first nine months of the current fiscal year 2023/24, according to the macroeconomic and financial situation report released by the Nepal Rastra Bank (NRB) on Sunday. This contrasts with a deficit of Rs 60.43 billion observed in the same period of the previous fiscal year.

In US Dollar terms, the current account registered a surplus of 1.35 billion in the review period, compared to a deficit of 468.3 million in the same period last year.

Similarly, the capital transfer decreased by 19.2% to Rs 4.78 billion, and net foreign direct investment (FDI) remained positive at Rs 6.48 billion. In the same period of the previous year, the capital transfer amounted to Rs 5.91 billion, and net FDI amounted to Rs 2.62 billion.

The Balance of Payments (BOP) remained at a surplus of Rs 365.16 billion until mid-April of the current fiscal year, compared to a surplus of Rs 174.28 billion in the same period of the previous year. In US Dollar terms, the BOP remained at a surplus of 2.75 billion in the review period, compared to a surplus of 1.32 billion in the same period of the previous year.