The National Bank has stated that the current foreign exchange reserves, based on current imports, will be sufficient to cover 19.9 months of goods imports and 16.4 months of goods and services imports.
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The balance of payments position in the first three months of the current fiscal year has been in surplus by Rs 264.3 billion, while in the first three months of the previous fiscal year, the balance of payments position was in surplus by Rs 184.99 billion.
The balance of payments position indicates the difference between the amount leaving and entering the country. When the amount entering the country is more than the amount leaving the country, the balance of payments goes into surplus.
According to the financial report of the three months of the current fiscal year made public by the Nepal Rastra Bank, the balance of payments position in US dollars is seen as a surplus of 1.88 billion.
When the balance of payments position goes into surplus, it also has a positive impact on foreign exchange reserves. The Rastra Bank has stated that foreign exchange reserves were worth 2979 billion rupees as of mid-Shrawan-Asoj.
Such reserves were worth 2677 billion rupees as of mid-Ashar, an increase of 11.3 percent in three months.
The country's reserves in US dollars have increased by 8.7 percent compared to mid-Ashar and reached 21.21 billion rupees as of mid-Shrawan-Asoj.
Of the total foreign exchange reserves, the reserves held by the National Bank are worth 2.4 trillion 14 billion rupees, while those held by banks and financial institutions (excluding Nepal Rastra Bank) are worth 3.12 trillion 10 billion rupees.
The National Bank has stated that the current foreign exchange reserves, based on current imports, will be sufficient to cover 19.9 months of goods and 16.4 months of goods and services imports.
