Nepal received Rs 215.05 billion (2 kharba 15 arba 5 crore) in remittances during the first month of the current fiscal year. This figure is a 21.2 percent increase over the same period last year, according to Nepal Rastra Bank data.
The same period saw 70,441 people receive approval for foreign employment comprising of 42,693 Nepalis who obtained final work permits (both institutional and individual-new) and 27,748 who received renewed work permits.
In US dollar terms, remittance inflow rose 10.2 percent to $1.40 billion during the same period. Net secondary income reached Rs 229.98 billion. For comparison, the same period last fiscal year had seen remittance growth of 29.9 percent hinting how this year's growth while still strong, represents a real slowdown from that pace.
While the growth rate itself has slowed compared to last year's pace, the absolute inflow remains substantial underscoring how central remittances remain to Nepal's economy even as the country navigates the aftermath of the Bhote Koshi floods and broader economic uncertainty.
Nepal's remittance Inflow rises 21.2% to Rs 215.05 billion in first month of fiscal year
Nepal's remittance engine keeps running strong up by 21.2% in a single month though the pace itself is cooling compared to last year.
