Foreign exchange reserves now almost Rs 2.1 trillion

KATHMANDU, SEPTEMBER 27: Foreign exchange reserves in Nepal have reached nearly 2.1 trillion Nepali rupees. According to the Nepal Rastra Bank, as of  the month of Shrawan (mid-July to mid-August, 2024 ) the foreign exchange reserves stood at 2.092 trillion rupees.

This is an increase from 2.041 trillion rupees in the montht of Asadh (mid-June to mid-July, 2004), reflecting a 2.5% rise in one month. In U.S. dollars, the reserves now reached $15.58 billion, compared to $15.27 billion at the end of Asadh

Based on the import data Shrawan, the first month of the  current fiscal year (2024/25), the foreign exchange reserves in the banking sector are sufficient to cover 16.7 months of goods imports and 13.5 months of goods and services imports. The reserves account for 36.7% of Nepal’s Gross Domestic Product (GDP), 112.5% of total imports, and 30.3% of the broad money supply.

 

 

 

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