March 11: Inflow of remittance to Nepal increased 21.6 percent to Rs 839 billion in the first seven months of the current fiscal year compared to an increase of 27.1 percent in the same period of the previous year, according to the latest report of Nepal Rastra Bank.

The Current Macroeconomic and Financial Situation Report of Nepal based on seven months’ data released by the central bank on Sunday reveals that remittance inflows increased 19.1 percent to 6.31 billion in terms of the US dollar billion in the review period compared to an increase of 16.4 percent in the same period of the previous year.

In the review period, the number of Nepali workers, both institutional and individuals, taking first-time approval for foreign employment stood at 247,012 and those taking approval for renew entry stood at 158,540. In the previous year, such numbers were 314,767 and 167,708 respectively.

According to the NRB, net transfer increased 20.0 percent to Rs 910.74 billion in the review period. Such a transfer had increased 25.2 percent in the same period of the previous year.