Nepal Receives Over Rs 1,191 Billion in Remittances in Nine Months

Nepal received over Rs 1,191.31 billion in remittance inflows over the past nine months, reflecting a 10 percent year-on-year increase, according to the latest report by the Nepal Rastra Bank (NRB). In U.S. dollar terms, remittance inflows rose by 7.3 percent, reaching USD 8.74 billion, compared to a 15.2 percent growth in the same period last fiscal year.

The data, published in NRB’s Macroeconomic and Financial Situation of Nepal report for the nine months ending mid-April of fiscal year 2024/25, shows a steady but slower pace of growth in remittances compared to the 17.2 percent increase recorded in the same period of the previous year.

Additionally, net secondary income (net transfers) reached Rs 1,301.94 billion, up from Rs 1,174.54 billion during the corresponding period last year.

The report also highlights a rise in labor migration. A total of 358,222 Nepali workers received first-time approvals for foreign employment, while 249,652 individuals obtained approval for re-entry. These figures mark an increase from last year’s 327,842 first-time approvals and 211,226 re-entry approvals, indicating a continued strong demand for overseas employment among Nepali citizens.