Country receives more foreign exchange reserves

Kathmandu, Sept. 26: The foreign exchange reserves in the country crossed Rs 2092 billion in the first month of the current fiscal year 2081/082 BS, the Nepal Rastra Bank (NRB) said.     

In a Current Macroeconomic and Financial Situation report released today, the NRB stated that the foreign exchange reserves in mid-August 2024 totaled Rs 2092.22 billion from Rs 2041.10 billion in mid-July 2024.     

"Of the total foreign exchange reserves, reserves held by NRB increased 1.9 percent to Rs1883.42 billion in mid-August 2024 from Rs1848.55 billion in mid-July 2024. Reserves held by banks and financial institutions increased 8.4 percent to Rs 208.79 billion in mid-August 2024 from Rs192.55 billion in mid-July 2024," according to the NRB.     

The report stated that the share of Indian currency in total reserves stood at 22.6 percent in mid-August 2024.     

The foreign exchange reserves of the banking sector is sufficient to cover the prospective merchandise imports of 16.7 months, and merchandise and services imports of 13.5 months, the central bank said.(RSS)