Remittance Drops by 6.8 Percent to Rs 388.58 Billion

January 14, 2022 | Investopaper

Remittance inflows decreased 6.8 percent to Rs.388.58 billion in the first five months of the current fiscal year 2021/22 against an increase of 11.0 percent in the same period of the previous year. In the US Dollar terms, remittance inflows decreased 7.3 percent to 3.26 billion in the review period against an increase of 6.4 percent in the same period of the previous year.

However, the number of Nepali workers (institutional and individual-new and legalized) taking approval for foreign employment increased significantly to 131,082 in the review period. It had decreased 92.7 percent in the same period of the previous year. The number of Nepali workers (Renew entry) taking approval for foreign employment increased 295.8 percent to 99,580 in the review period. It had decreased 77.3 percent in the same period of the previous year.

Likewise, the net transfer decreased 5.7 percent to Rs.433.92 billion in the review period. Such a transfer had increased 8.5 percent in the same period of the previous year.


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