Remittance Declines By 7.6 Percent: NRB

Remittance Declines By 7.6 Percent: NRB

Nov. 16, 2021, 10:27 p.m.

The amount of remittance of the first three months of the current fiscal year (FY) has decreased by 7.6 per cent in comparison to the same period of the previous FY reports The Rising Nepal.

According to the "Current Macroeconomic and Financial Situation of Nepal" released by Nepal Rastra Bank, the remittance has slid to Rs. 239.32 billion in the review period down from Rs. 258.91 billion of the same period in the previous FY.

This report showed that the number of Nepali workers (institutional and individual-new and legalized) taking approval for foreign employment increased significantly to 66,316 in the review period from the previous FY when 1880 took the approval. Also, the number of people taking approval to renew entry visas increased significantly to 34,823 in the review period up from 10,894 in the previous FY.

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