KATHMANDU, Jan. 19 -- Forex kitty dips $79 million in five months
The rising import bill of the country has had its impact on the foreign exchange (forex) reserves, which dipped $79 million in first five months of the current fiscal year.
According to 'Current Macroeconomic and Financial Situation of Nepal (Based on Five Months' Data of 2018/19) released by the Nepal Rastra Bank on Thursday, the forex reserve of the country saw a decline by 7.9 percent in US dollar terms.
As of mid-December last year, the country's total forex reserve stands at $9.29 billion, down from $10.08 billion in mid-July.
As the country has been burning through the forex reserve to foot the rising import bill, it is putting a pressure on the external sector of t...