Nepal Rastra Bank (NRB), the central bank of the country, has said that the remittance inflows in Nepal increased by 12.6 per cent to Rs 870.94 billion in the 11th month of fiscal year 2020/21. Remittance inflows had witnessed a decline of 3.2 per cent in the corresponding period of the previous year.
In US dollar terms, remittance inflows increased by 10.4 per cent to $7.39 billion in the review period against a decrease of 5.2 per cent in the same period of the previous year.
The macroeconomic report published by NRB today for the 11th month of the current fiscal year also mentions that the number of Nepali workers (institutional and individual-new and legalised) taking approval for foreign employment decreased 59.9 per cent in the review period. It had decreased by 12.4 per cent in the corresponding period of the previous fiscal year.
Similarly, the number of Nepali workers (renew entry) taking approval for foreign employment decreased by 47.1 per cent in the review period. It had decreased by 31.1 per cent in the same period of the previous year.
Meanwhile, the net transfer increased by 11.4 per cent to Rs 971.04 billion in the review period. Such transfer had decreased by 3.9 per cent in the corresponding period of the previous year.
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