April 5: Inflow of remittance into Nepal increased 21.0 percent to Rs 961.22 billion in the first eight months of the current fiscal year, according to the latest report of Nepal Rastra Bank.

According to the Current Macroeconomic and Financial Situation Report unveiled by Nepal Rastra Bank on Thursday, remittance inflows had increased by 25.3 percent in the same period of the previous year.

In the US dollar terms, inflow of remittance increased 18.8 percent to 7.24 billion in the review period compared to an increase of 14.8 percent in the same period of the previous year.

In the review period, the number of Nepali workers, both institutional and individual, taking first-time approval for foreign employment stood at 286,932 and those taking approval for renewal of work permits stood at 184,278, the NRB report stated. In the previous year, such numbers were 351,761 and 192,559 respectively.

Meanwhile, the net transfer increased 18.9 percent to Rs 1041.96 billion in the review period. Such a transfer had increased 23.9 percent in the same period of the previous year.