Nepal's forex reserves escalate to record-high amount at $ 13.69 billion, sufficient for goods and services imports of 12.1 months
KATHMANDU, Feb. 7 -- Remittance inflow increases by 25.3 percent, current account surplus remains at Rs 161.62 billion
Nepal is cushioned with a notable rise in the foreign currency reserves as of mid-January, thanks to a significant increase in the remittance inflows in the past six months.
The 'Current Macroeconomic and Financial Situation Report of Nepal' unveiled by Nepal Rastra Bank (NRB) on Tuesday shows that the landlocked and import-oriented country now has foreign currency reserves of US $ 13.69 billion, sufficient to finance merchandise imports of 14.5 months, and merchandise and services imports of 12.1 months. In the past year, the amount increased by USD 3.19 billion.
The NRB report shows that the inflow of remittance incr...
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