KATHMANDU, Aug. 24 (Xinhua) -- Nepal recorded a growth in both foreign exchange reserves and remittances in the 2024-25 fiscal year, which ended in mid-July, the central bank said on Sunday.
The forex reserves increased by 27.7 percent to 19.5 billion U.S. dollars, up from 15.26 billion dollars in 2023-24, the Nepal Rastra Bank said in a report.
Remittance inflows grew by 16.3 percent year-on-year to 12.64 billion dollars in 2024-25.
"Based on the 2024-25 fiscal year imports, the foreign exchange reserves are sufficient to cover the prospective merchandise imports for 18.2 months and merchandise and services imports for 15.4 months," noted the report. ■