Spread the love

Kathmandu, October 16: The foreign exchange reserves of the country inclined at Rs 21.5 billion. Although the country’s internal economy is in trouble, the external indicators of the economy are looking strong.

Foreign exchange reserves have increased despite the decline in imports and increase in remittance inflows. According to the current economic and financial situation of the country revealed by the Nepal Rastra Bank on Tuesday, the current revenue collection has increased by 5.5 percent to Rs 21.52 billion 53 million.

Considering the two-month imports, the foreign exchange reserves with the banking sector will be enough to cover 16.8 months’ goods imports and 13.7 months’ goods and services imports.

During the review period, the number of Nepalis who received final labor approval for foreign employment – institutional and individual – was 76,485 and the number of those who received re-labor approval was 40,583. In the same period last year, such numbers were 74,455 and 32,000 respectively.

There has been significant improvement in the current account and balance of payments situation. The current account has savings of Rs 49.69 billion during the period under review. During the same period last year, the current account had savings of Rs 23.97 billion. In US dollars, there is a saving of 371 million in the current account review period compared to 1813 million in the same period of the previous year. Foreign direct investment (FDI) inflows stood at $1.2 billion.

People’s News Monitoring Service.