Remmitance inflows worth over 1.350 trillion in 10 months

KATHMANDU, JULY 10: According to data released by Nepal Rastra Bank, remittance inflows increased by 13.2 per cent during the first ten months of the current fiscal year (FY 2024/25). As of mid-May, Nepal received NPR 1.356 trillion in remittances.

In comparison, remittance inflows had grown by 16.9 per cent during the same period last fiscal year. From mid-April to mid-May alone, the inflow of remittances amounted to NPR 165.30 billion, up from NPR 115.99 billion in the same month the last year.

In U.S. dollar terms, remittances rose by 10.5 percent, reaching USD 9.96 billion during the review period. Last year, the growth rate during this period was 14.8 percent. Meanwhile, net secondary income (net transfers) reached NPR 1.479 trillion, up from NPR 1.301 trillion in the same period a year ago.

Foreign employment figures also saw an increase. During the review period, 405,610 Nepalis obtained final labor approvals (both institutional and individual) for foreign employment, while an additional 280,314 received re-entry labor approvals. These numbers were 373,307 and 236,398, respectively, in the corresponding period last fiscal year.