Foreign Currency Reserves Surpass NPR 3.4 Trillion, Enabling 21 Months of Goods Imports

Nepal Rastra Bank has reported that the country’s foreign currency reserves have reached NPR 3.413 trillion as of the end of the month of Falgun in the current fiscal year. According to the central bank, this reserve is sufficient to cover 21.4 months’ worth of goods imports and 18.5 months of goods and services imports based on current import levels.

The foreign currency reserves increased by 27.5 percent by the end of Falgun, with an 18.3 percent growth in US dollar reserves over eight months, the Rastra Bank has stated. A report released on 19 Chaitra in Kathmandu notes a significant rise in currency reserves compared to the end of Ashad this fiscal year.

As of the end of Ashad, the nation’s foreign currency reserves stood at NPR 2.677 trillion. Currently, the US dollar reserves amount to approximately 2.308 billion USD. During this period, the US dollar reserves grew by 18.3 percent. Additionally, the Rastra Bank reported that Indian currency constitutes 21 percent of the total foreign exchange reserves as of Falgun’s end.