Remittance inflow crosses Rs 177 billion in first month of current fiscal year

Kathmandu, Sept 16: The Nepali migrant workers sent Rs 177.41 billion in remittance in the first month of the current fiscal year, according to the central bank.

“Remittance inflows increased 29.9 percent to Rs 177.41 billion in the first month of 2082/83. Remittance inflow had increased 17.7 percent to Rs 136.60 billion in the same period of the previous year,” the Nepal Rastra Bank stated in the Current Macroeconomic and Financial Situation of Nepal based on one month data ending mid-August.

Likewise, the Bank stated that the net secondary income (net transfer) reached Rs 193.85 billion in the first month of the current fiscal year. Such income was Rs 148.08 billion in the same period of the previous year. The number of Nepali workers taking first-time approval for foreign employment stands at 44,466, and those taking approval for re-entry stands at 23,644.

In the same period of the previous year, such numbers were 36,928 and 22,647, respectively.