KATHMANDU, July 8 (Xinhua) -- Nepal had seen a surge in remittances and foreign exchange reserves in the past 11 months of the current 2024-25 fiscal year, the central bank said on Tuesday.
Remittance inflows increased 12.7 percent to 11.25 billion U.S. dollars from mid-July, 2024 to mid-June, 2025, the Nepal Rastra Bank said in a report.
The South Asian country received remittances worth 1.28 billion dollars between mid-May and mid-June alone.
Likewise, the foreign exchange reserves increased 22.2 percent to 18.65 billion dollars by mid-June, the bank noted.
"The foreign exchange reserves of the banking sector are sufficient to cover the prospective merchandise imports for 17.6 months and merchandise and services imports for 14.7 months," the bank added. ■
