In the current fiscal year, remittances amounting to Rs 209 billion were received in the month of Chait, marking the highest figure ever recorded. With the Nepali rupee weakening, the exchange rate against the US dollar has reached Rs 152, which has contributed to an increase in remittance inflows. Up to Chait of this fiscal year, remittances have grown by 39.1 percent, totaling Rs 1.659 trillion.
According to Nepal Rastra Bank, the exchange rate of one US dollar has reached Rs 152, representing the weakest position of the Nepali rupee in history. The depreciation of the Indian rupee against the US dollar has also aided the improvement in remittance inflows. In Ashoj of the current fiscal year, remittance inflows amounted to Rs 201 billion.
By the end of Chait in the current fiscal year, remittance volumes have increased by 39.1 percent to Rs 1.659 trillion. The central bank reported that the total remittance inflow for Chait 2082 was Rs 209.75 billion. In US dollar terms, remittances increased by 31.9 percent, reaching $1.155 billion up to Chait in the current fiscal year.
Regarding foreign employment, the total number of new labor approvals (both institutional and individual) obtained until Chait is 294,186, while the number of renewed labor approvals stands at 293,259.
