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Remittance Inflow Declines by 5.5 Percent   

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Remittance Inflow Declines by 5.5 Percent   
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February 10: Remittance inflow to Nepal has declined in the first six months of the current fiscal year, Nepal Rastra Bank (NRB) stated in its latest report.    

According to Current Macroeconomic and Financial Situation Report released by the central bank on Wednesday (February 9), the inflow of remittance has declined by 5.5 per cent during the review period to Rs 468.45 billion against an increase of 11.1 percent in the same period of the previous year    

In terms of the US Dollar, remittance inflow decreased 6.2 percent to 3.93 billion in the review period against an increase of 6.7 percent in the same period of the previous year, the report stated.

Meanwhile, the number of Nepalis acquiring work permit for foreign employment during the review period has increased significantly to 167,513. It had declined by 89 per cent during the corresponding period of the previous fiscal year.    

Similarly, number of Nepali workers taking approval for foreign employment (renew entry) has increased by 298.1 per cent to 130,212 during the review period while it had decreased by 75.5 per cent during the corresponding period of previous fiscal year.    

According to the NRB, the net transfer has decreased by 4.9 per cent to Rs 523 billion during the review period.

Such a transfer had increased 8.9 percent in the same period of the previous year, the report states.

 

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