Foreign exchange reserves up by 10 per cent

foreign exchange reserves foreign currency - money - dollar - public debt remittance - foreign investment
Photo by Ibrahim Boran on Unsplash

Kathmandu, December 14

Foreign exchange reserves have seen a 10.2 per cent increase in the first four months of the current fiscal year. This has been attributed to a decline in imports and substantial growth in remittances.

The total foreign exchange reserve, which was Rs 1.539 trillion in mid-July, has surged by 10.2 per cent to reach Rs 1.696 trillion in mid-November.

According to Nepal Rastra Bank, foreign exchange reserves in US dollars have risen by 8.9 per cent, reaching USD 12.75 billion in mid-November, compared to USD 11.71 billion in mid-July.

Of the total foreign reserves, those in the Nepal Rastra Bank increased from Rs 1.345 trillion in mid-July to Rs 1.490 trillion in mid-November.

The foreign exchange reserves held by other banks and financial institutions were Rs 193.59 billion in mid-June, and as of mid-November, they stand at Rs 205.95 billion.

The Indian currency constitutes 21.8 per cent of the total foreign reserves as of mid-November.

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