Remittances increased by 8 percent to Rs 165 billion in two months

Kathmandu: Remittances to Nepal from abroad have increased by eight percent during the first two months of the current fiscal. According to the data released by Nepal Rastra Bank (NRB) remittance inflow was 8.1 percent during the same period of last fiscal year.
According to NRB, remittance worth Rs. 165.73 billion has been received till mid-August. The remittance inflow had decreased by 0.6 percent in the corresponding period of the previous year. Remittance inflows to the US dollar rose 2.6 percent to 1.39 billion dollars, according to the NRB.
Despite the increase in remittance inflows, the number of people going for foreign employment has decreased by almost 100 percent during this period. According to the central bank, the number of Nepalis seeking final labor permits (institutional and individual-new and legalized) for foreign employment declined by 99.2 percent during the review period.
Such number had increased by 0.2 percent in the corresponding period of the previous year. The number of Nepalis seeking re-employment for foreign employment has decreased by 86.5 percent during the review period. Such number had increased by 10.3 percent in the corresponding period of the previous year.