Surge in Inward Remittances: 5 Kharba Received in 4 Months

Nepal has witnessed a significant increase in remittance inflow during the first four months of the current financial year. According to data from the Nepal Rastra Bank, a total of 4 kharba 77 arba 96 crore rupees in remittances have been received up to Kartik of the ongoing year.

Comparing this period with the corresponding months of the previous year, there is a notable growth of 26.4% in remittances. Last year, the remittance growth rate for the same four-month period was 20.4%. The remittance flow in U.S. dollars also saw a substantial increase, rising by 23.1% to reach $3.60 arba. In comparison, the growth in such flow was 10.8% during the same period last year.

The data further reveals that 137,475 Nepalese obtained the final work permit for foreign employment during the review period, with an additional 68,841 renewing their work permits. In contrast, the corresponding figures for the previous year were 196,735 and 87,428, respectively.

During the review period, the net transfer of remittances exhibited a robust increase of 24.9%, reaching a total of 5.21 kharba. This positive trend indicates a substantial contribution from Nepalese working abroad to the country's economy, showcasing the importance of remittances in bolstering financial stability and supporting livelihoods.