Remittance inflows rise by 9.4 pc to over Rs 1tn in 8 months: NRB

KATHMANDU: Remittance inflows increased by 9.4% to Rs 1,051.77 billion in the first eight months of the fiscal year 2024/25, compared to an 18.3% increase in the same period of previous fiscal year, according to the latest macroeconomic and financial situation report issued by Nepal Rastra Bank (NRB) on Wednesday.

In US dollar terms, remittance inflows rose by 6.9% to 7.74 billion in the review period, compared to a 16.1% increase in the corresponding period of previous year.

Net secondary income (net transfer) amounted to Rs 1,148.12 billion during the review period, up from Rs 1,041.99 billion in the same period of the previous year.

The number of Nepali workers taking first-time approval for foreign employment reached 317,068, while the number receiving approval for re-entry stood at 217,403. In the previous fiscal year, these figures were 285,352 and 182,783, respectively.

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