May 10:   Foreign exchange reserves of Nepal have reached NPR 1,433.73 billion till mid-April 2023, according to the report of Nepal Rastra Bank(NRB). This represents an increase of 17.9% from the total foreign exchange reserves of NPR 1,215.80 billion in mid-July 2022.

In terms of US dollars, the foreign exchange reserves stood at USD 9.54 billion in mid-July 2022, which increased by 14.8% to reach USD 10.94 billion in Chaitra 2079.

Of the total foreign exchange reserves, the reserves held by Nepal Rastra Bank increased by 20.6% to NPR 1273.99 billion until  mid-April 2023 from 1056.39 billion in mid-July 2022.

Foreign exchange reserves held by banks and financial institutions except Nepal Rastra Bank grew slightly by 0.2% and reached NPR 159.74 billion in mid-April 2023 from NPR 159.41 billion in mid-July 2022.

Based on the imports of the first nine months of the current fiscal year, the foreign exchange reserve is sufficient to import merchandise for 11 months and both merchandise and services for 9.4 months.