About 900 billion remittance enters country : NRB

Remittance around nine billion rupees has entered the country in fiscal year 2018/19. This is stated in the report, ‘Current Economic and Fiscal Condition of the Country’, released by Nepal Rastra Bank.

The report states that the remittance has reached Rs 879.27 billion in fiscal year 2018/19. The remittance inflow has increased by 16.5 per cent in last fiscal year 2018/19. Rs 755.06 billion remittance entered the country in fiscal year 2017/18. The remittance inflow had grown by 8.6 per cent in the previous year.

Likewise, the remittance inflow has increased by 7.8 per cent in US Dollars. The same had grown by 10.2 per cent the previous year. It is stated that the number of people going on foreign employment based on labour permission (institutionally or personal basis – new and legal) has decreased by 32.6 per cent last fiscal year.

The same had fallen by 9.3 per cent the year before that. Number of Nepalis going on foreign employment on the basis of re-labour permit has increased by 5.4 per cent in the review period, according to the NRB. The same had decreased by 0.6 per cent the year before last.