Remittance increases 16.5 per cent

By TRN Online, Kathmandu, Aug 18: Remittance inflows increased by 16.5 per cent to Rs 1445.32 billion during fiscal year (FY) 2023/24 compared to an increase of 23.2 per cent in the previous year.

According to a Macroeconomic data of FY 2023/24 published by Nepal Rastra Bank today, the remittance inflows in US dollar terms has been increased by 14.5 per cent 10.86 billion in the review year compared to an increase of 13.9 per cent in the previous year. 

Also, the number of Nepali workers both institutional and individual, taking first-time approval for foreign employment stand at 460,103 and taking approval for renew entry stands at 281,199. in the previous year, such numbers were 497704 and 277272 respectively. 

Similarly, net tranfer increased 14.7 per cent to Rs 1571.24 billion in the review year. Such transfer had increased 22.5 per cent in the previous year.