Remittance, forex increase in Nepal

KATHMANDU, March 11 (Xinhua) -- The remittance inflow and foreign exchange reserves increased significantly year-on-year in the first seven months of the current fiscal year, Nepal's central bank said in a report on Wednesday.

The Nepal Rastra Bank said remittance inflows increased 33 percent to 8.86 billion U.S. dollars between mid-July 2025 and mid-February 2026 year-on-year.

An increase in the number of migrant workers has been attributed to the rise. As many as 472,577 migrant workers left the country for work during the first seven months of the current fiscal year. The number was 465,548 in the first seven months of the previous fiscal year.

The central bank said the gross foreign exchange reserves increased 16.7 percent to 22.76 billion dollars in mid-February 2026 from 19.50 billion dollars in mid-July 2025.

"Based on imports in the seven months of 2025-26, the foreign exchange reserves are sufficient to cover prospective merchandise imports for 21.3 months, and merchandise and services imports for 18.0 months," the report reads. Enditem