Nepal's balance of payment sees Rs 195.01bn  loss

This undated image shows the building of Nepal Rastra Bank in Kathmandu. Photo courtesy: NRB

KATHMANDU: The first five months of the current fiscal year has witnessed the balance of payment (BoP) at a loss of Rs 195.01 billion. However, in the same period of the last fiscal year, the BoP was on the positive side with Rs 106.48 billion profit/savings.

The data released by the Nepal Rastra Bank on the current and financial condition of the country on Thursday shows the current account of the five months also at a loss of Rs 300.39 billion. In the same period of the last year, the current account was at a loss of only Rs 23 billion.

Similarly, the foreign exchange reserve has also declined in the five months. It is now Rs 1,214 billion.


Trade loss at Rs 335 billion

The commodity trade loss is recorded at a loss of 54% in the last five months reaching Rs 749 billion. Similarly, the import has increased by 59%.

The five-month report has shown negative progress in other indicators as well. Inflation rose by 7.11% against the NRB’s aim of containing it within 6.5%. The inflation in the same period of last fiscal year was 2.93%.

The deposit in banks and financial institutions (BFIs) increased by 1.5% while it was 6.5% last fiscal year.

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