Remittance inflows rise by 4.1 pc in first half of current FY: NRB

KATHMANDU: Nepal Rastra Bank (NRB) has reported 4.1% rise in remittance inflows to Rs 763.08 billion in the first half of the current fiscal year 2024/25, compared to a 22.2% increase in the same period previous fiscal year.

In US Dollar terms, remittance inflows increased by 1.1% to $5.58 billion during the review period, compared to a 19.5% rise in the first six months of the previous fiscal year.

Net secondary income (net transfers) reached Rs 832.76 billion between mid-July 2024 and mid-January 2025, compared to Rs 799.54 billion in the corresponding period of the previous fiscal year.

The number of Nepali workers, both institutional and individual, receiving first-time approval for foreign employment stands at 230,439, while those receiving approval for re-entry stand at 162,628. In the previous year, these numbers were 206,390 and 133,940 respectively.