Remittance inflows increases 25.3 percent in eight months

Remittance inflow has increased 25.3 percent in eight months of the current fiscal year, 2022/23.

Against 1.3 percent decrement during the same period in the previous FY, the inflows reached Rs 794.32 billion, according to the current macroeconomic and financial situation of Nepal based on eight months’ data published by the Nepal Rastra Bank. In the US dollar terms, the remittance inflows increased 14.8 percent to 6.09 billion in the review period against a decrease of 2.6 percent in the same period of the corresponding year.

Likewise, the number of Nepali workers (institutional and individual-new) taking approval for foreign employments surged 54.3 percent to 351,761. The number of Nepali workers getting their labour permit renewed increased eight percent to 192,559, a 240.3 percent increment against during the same period in the previous year.