Gross foreign exchange reserve has increased by 14.8 per cent to Rs 1767.04 billion till mid-December 2023 from Rs 1539.36 billion recorded in mid-July 2023.
According to NRB (Nepal Rastra Bank) first five months' report of the current fiscal year (FY) published today, the foreign exchange reserve of the banking sector is sufficient to cover the prospective merchandise imports of 14.1 months. In the same period of the previous FY, the foreign exchange was sufficient for merchandise imports for 10 months.
The report says the amount is sufficient for merchandise and service import of 11.8 months . In the same period of the previous FY, the amount is sufficient to import merchandise and services for 8.7 months.