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Kathmandu, 24 September: Remittance, the flow of capital from immigrants to families back home, is a crucial source of income for Nepal and it has been propelling country’s faltering economy since long but the latest data show that the inflow of remittances has decreased in the first month of the current fiscal year.
As per the details of the current fiscal year released by Nepal Rastra Bank, the remittance inflow decreased by 18.1 percent to Rs. 75.96 billion in July. The remittance inflow had increased by 23 percent in the corresponding period of the previous year. In US dollar terms, remittance inflows declined by 17.5 percent to Rs 638.2 million. Such inflows had increased by 14.5 percent in the previous year.
People’s News Monitoring Service
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