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Nepal’s foreign exchange reserves reach highest in 5 years

File image: Nepal Rastra Bank

Kathmandu, September 28

The country’s foreign exchange reserves have reached the highest point in the past five years, apparently due to import restrictions caused by the global Covid-19 crisis.

After calculating the import data of the first month of the fiscal year 2020/21 (mid-July-mid-August 2021), Nepal Rastra Bank says the value of the country’s foreign exchange reserves is Rs 1 trillion and 436 billion.

The amount is sufficient to import goods and services for the next 15.6 months.

Of the total reserves, the central bank has Rs 1 trillion and 160 million whereas Rs 176 billion is with other banks and financial institutions.

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