Inflation at ten percent: NRB report

KATHMANDU, June 13:

Inflation in the last ten months of the current fiscal year 2070- 71 BS was 9.7 percent, the Nepal Rastra Bank (NRB) has said. It was 8.7 percent last fiscal year.

Deposits in banks and financial institutions increased by 11.6 percent and reached Rs. 137.47 billion, which was increased 8.3 percent last year.

The report issued by NRB on Thursday has stated that Rs. 283.33 billion was provided liquidity by purchasing US dollars 2.86 billion from foreign exchange market in the ten months.

Government budget surplus was Rs. 58.57 billion in the period as against Rs. 47.33 billion last year.

The overall surplus was Rs. 115.26 billion, which was Rs. 38.60 billion last year. Gross foreign exchange surplus was Rs. 653.09 billion with an increment of Rs. 22.5 percent compared to last fiscal year.

Source: Republica