Nepal has received almost Rs 7 trillion in remittances over the past four months, showing a significant rise compared to the previous year. According to a report by Nepal Rastra Bank, by mid-November, the country had received Rs 6.87 trillion in funds sent from abroad.
This is a sharp increase of 31.4 percent compared to the same period last year, when remittances had grown by just 9.4 percent. The report highlights that in November alone, Rs 1.33 trillion flowed into the country, higher than Rs 1.14 trillion recorded in the same month last year.
Most of this growth came in US dollars, with inflows rising 25.3 percent to reach $488 million. Last year, dollar inflows had increased by only 8.2 percent. Analysts see this as a strong sign of Nepal’s growing reliance on remittance for household income and economic stability.
This steady rise in foreign earnings is likely to impact the domestic economy, supporting consumer spending and investments in various sectors.
