Remittances drop by 4.9 percent

Kathmandu: Remittance inflow has decreased by 4.9 percent to Rs. 540.12 billion in the first seven months of the current fiscal year against an increase of 10.9 percent in the same period of the previous year.
According to the Nepal Rastra Bank (NRB), the number of Nepali workers (institutional and individual-new and legalized) taking approval for foreign
employment increased significantly to 200,102 in the review period.

It had decreased 85.4 percent in the same period of the previous year. The number of Nepali workers (Renew entry) taking approval for foreign employment increased 265.9 percent to 152,325 in the review period. It had decreased by 73.1 percent in the same period of the previous year.
Meanwhile, net transfer has also decreased by 4.2 percent to Rs.603.73 billion in the review period. Such a transfer had increased by 8.9 percent in the same period of the previous year.

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