Remittances entering Nepal set a new record last October. Most remittances have been received in October. According to Rashtra Bank, 1 trillion 44 billion 20 million remittances were received in a single month last October. This is the highest so far in the data of monthly remittances to Nepal.

Earlier, 1 trillion 37 billion rupees remittance was received in 080 October. Experts say that there has been an increase in remittances due to the increase in the value of the US dollar, the increase in the number of Nepalis who go abroad for foreign employment and the fact that the world economy is improving.

According to the monthly report of Rashtra Bank, in the three months of the current financial year (July, August and October), 4 trillion 7 billion 31 crore rupees have entered the country through remittances. This is 11.5 percent higher than the same period last year. Remittance inflows increased by 25.8 percent till October 80. In three months of this year, the remittance inflow in US dollars has reached 3.4 billion. Last year, such flow was 2.76 billion. 

During this period, the number of Nepalese who took the final work permit for foreign employment is 110,654 and the number of those who took the work permit again is 59,939. During the same period last year, such numbers were 113 thousand 397 and 49 thousand 297 respectively. According to Rashtra Bank, more than 1 billion remittances have been coming in every month since the last 17 months.

In the same way, 1 trillion 44 billion rupees were received last October. With the increase in remittances, foreign exchange reserves have also reached their highest point, while current account balances and current account balances are also accumulating. Other sources of foreign exchange, including exports, tourism, foreign investment, foreign aid, etc., are in a disappointing state. But since remittances are only increasing continuously, the experts say that indicators including current account, current account savings and other indicators are also constantly in savings. 

Thus the increase in remittances, the external indicators of the economy are continuously increasing, the official of the National Bank admits. Gunakar Bhatta, Head of Research Department of Nepal Rastra Bank, said that the increasing exchange reserves have given the government and the private sector a good opportunity to increase investment. With the accumulation of foreign regulations, the external indicators of the economy are becoming stronger. The price of crude oil is continuously decreasing in the international market. The interest rate in the country is also low," he said, "this is a better opportunity for the government and the private sector to expand investment."  He says that since the economic indicators have given a good opportunity for investment expansion, it should be fully utilized. He said that if the investments are expanded now, the industries and construction sectors which are seen as lax can improve, while the transportation, wholesale and retail trade sectors which have potential can also become more vibrant. 

Foreign exchange reserves exceeded 22 trillion 32 billion 

The country's foreign exchange reserves have exceeded 22 trillion 32 billion rupees as of last October. It has increased by 9.4 percent compared to last June, according to the monthly report of National Bank. According to the report, the foreign exchange reserve which was equal to 20 trillion 41 billion 10 million till the end of June 2018 has reached 22 trillion 32 billion 28 billion till last October. This is also the most so far. Foreign exchange reserves have also been setting new records every month in recent months. According to the National Bank, such reserves in US dollars were 15.27 billion at the end of June 2081 and increased by 8.7 percent to 16.60 billion at the end of October 2081. 

Based on the import of three months of the financial year 2081/82, the foreign exchange reserves held by the banking sector will be sufficient to support 17.6 months of goods imports and 14.6 months of goods and services imports, the Rashtra Bank claims. Rastra Bank aims to maintain foreign exchange reserves that can cover at least 7 months of imports this year. 

Out of the total foreign exchange reserves, the reserve in Nepal Rastra Bank was 18 trillion 48 billion 55 crores at the end of June 2018 and increased by 7.5 percent to 19 trillion 88 billion at the end of October. Foreign exchange reserves with banks and financial institutions (except Nepal Rastra Bank) were Rs. 192 billion 55 crores at the end of June 2081, increasing by 26.9 percent to 2 trillion 44 billion 27 crores at the end of October 2081. The share of Indian currency in the total foreign exchange reserves as of mid-October was 21.9 percent.

translation savings of over 2 trillion 

Last October, the country's balance sheet is in surplus of 1 trillion 84 billion 99 billion. During the same period of the previous year, the balance sheet was in surplus by 1 trillion 1 billion 66 crores. In the US dollar, the surplus of 766.8 million in the same period of the previous year is in surplus of 1.38 billion during the review period.

Similarly, as of last October, the current account is in surplus by 1 trillion 11 billion 87 crores. During the same period of the previous year, the current account was in surplus by 59.65 billion. In US dollars, the current account, which was in surplus by 449 million in October last year, is in surplus by 834 million in the same period of this year.