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Foreign currency (exchange) reserves have increased by 2 trillion 75 billion 74 crore rupees only in six months of the current financial year. Along with this, the country's total foreign exchange reserves have reached 23 trillion 16 billion 84 billion rupees till last December.
Compared to last June, the foreign exchange reserves increased by 13.5 percent till January. At the end of June 2008, the total foreign exchange reserves were 20 trillion 41 billion 10 million.
"Such reserves in US dollars were 15.27 billion at the end of June 2081, and increased by 10.3 percent to 16.84 billion at the end of January 2081," Nepal Rastra Bank's monthly report said.
Out of the total foreign exchange reserves, the reserves in Nepal Rastra Bank increased by 12.1 percent to reach 20.72 billion 34 crores at the end of March. Foreign exchange reserves with banks and financial institutions (except Nepal Rastra Bank) have increased by 27 percent to 2.44 billion 500 million. According to the Rastra Bank, the share of Indian currency in the total foreign exchange reserves at the end of December 2018 was 24.3 percent.
National Bank claims that if the import of up to 6 months of the current financial year is taken as the basis, the foreign exchange reserves held by the banking sector will be sufficient to support 17.3 months of goods imports and 14.4 months of goods and services imports.
At the end of December 2081, the ratio of foreign exchange reserves to gross domestic product is 40.6, total import is 120.3 and wide currency supply is 32 percent.
