The National Bank had set a target of maintaining foreign exchange reserves sufficient to cover at least 7 months of imports in the current fiscal year.
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The country's foreign exchange reserves have been setting new records every month. In the same vein, foreign exchange reserves have reached 3755 billion rupees by Jestha. Foreign exchange reserves have increased by 40.3 percent compared to last Ashad.
In Ashad 2082, the total foreign exchange reserves were 2677 billion 680 million rupees. 'In US dollars, such reserves were 19.5 billion in mid-Ashad 2082, but have increased by 26.5 percent to 24.68 billion by mid-Jestha 2083,' the National Bank said. The share of Indian currency in total foreign exchange reserves is 21.5 percent.
Based on imports up to 10 months in the fiscal year 2082/83, the foreign exchange reserves of the banking sector are sufficient to cover 22.5 months of goods imports and 19.1 months of goods and services imports, the NRB claims. The NRB had set a target of maintaining foreign exchange reserves sufficient to cover at least 7 months of imports in the current fiscal year.
