July 10: Nepal received remittance of Rs 1112.52 billion in the first eleven months of the current fiscal year, according to the latest report of Nepal Rastra Bank (NRB).

Unveiling the Current Macroeconomic and Financial Situation Report based on the eleven months of the fiscal year 2022/23, the central bank said inflow of remittance increased by 22.7 percent to reach Rs 1112.52 billion in the review period compared to an increase of 4.1 percent in the same period of the previous year.

In the US dollar terms, remittance inflows increased 13.0 percent to 8.51 billion in the review period compared to an increase of 1.8 percent in the same period of the previous year.    
Similarly, the number of Nepali workers (institutional and individual) obtaining approval for foreign employment increased by 46.6 percent and reached 459,415 in the review period. The number of Nepali workers (renew entry) taking approval for foreign employment increased 0.5 percent to 260,262 in the review period. It had increased 208.3 percent in the same period of the previous year, the report stated.  
According to the NRB report, net transfer increased by 21.9 percent to reach Rs 1229.82 billion during this period. Such a transfer had increased 3.8 percent in the same period of the previous year. -- RSS