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Kathmandu, December 2: Nepal has received Rs. 553.31 billion worth of remittances during the three months of the current fiscal year, increasing remittance inflows by 35.4 percent.

According to the data published by the Nepal Rastra Bank, a total of Rs. 553.31 billion worth of remittances entered the country during this period.

In the same period of the previous year, such inflows had increased by 11.9 percent, reaching Rs. 408.77 billion. In the first month of the current fiscal year—i.e., in Shrawan—remittance inflows had increased by 29.9 percent, reaching Rs. 177.41 billion.

Similarly, in Bhadra of the previous year, remittance inflows had increased by 33.1 percent, reaching Rs. 352.08 billion. In the first quarter of the current fiscal year, the current account remained in surplus by Rs. 237.59 billion and the balance of payments remained in surplus by Rs. 264.03 billion. In the same period of the previous fiscal year, the current account was in surplus by Rs. 115.36 billion, while the balance of payments was in surplus by Rs. 184.99 billion.

Likewise, in the first three months of the current fiscal year, total merchandise exports increased by 89.6 percent, reaching Rs. 72.78 billion.

During the same period, merchandise imports increased by 19.8 percent, reaching Rs. 468.08 billion. During the review period, the total trade deficit increased by 12.2 percent, reaching Rs. 395.30 billion.

People’s News Monitoring Service.