Remittance inflows hit Rs 228 billion in first two months of current fiscal year

Nepal has received remittance of Rs 228 billion in the first two months of the current Fiscal Year 2023/24.

According to the country's Current Economic and Financial Situation report based on the statistics until the 17th of September, 2023, unveiled by Nepal Rastra Bank today, the remittance inflow increased by 22.1 percent in this period and reached Rs 228 billion and 370 million.

The remittance inflow during the corresponding period last year had increased by 19.8 percent. In terms of US dollar, the remittance inflow grew by 17.7 percent to reach 1 billion 730 million US dollars.

The number of Nepalis taking a labour permit for foreign employment until September 17, 2023 of the current fiscal year beginning July 17 has decreased by 28.3 percent and remained 74,455.

Similarly, the number of Nepalis renewing their work permit for foreign employment was 32,004, a decrease of 18.3 percent. In the previous fiscal year, this number had increased by 70.6 percent, the NRB stated in the report.