Nepal received Rs 900.58 billion in remittances during the first seven months of the current fiscal year 2024/25, according to the Current Macroeconomic and Financial Situation Report released by Nepal Rastra Bank (NRB). The amount was received between mid-July 2024 and mid-February 2025.
This marks a 7.3 percent increase compared to the same period of the previous fiscal year 2023/24. In terms of US dollars, remittances increased by 5.3 percent. In the month from mid-January to mid-February alone, Rs 137 billion in remittances were received.
Despite an increase in the number of people seeking foreign employment, the growth rate of remittances has declined. A total of 465,508 individuals have gone abroad for work in the seven-month period. Of these, 274,622 individuals obtained work permits for the first time, while 190,886 renewed their permits. In the same period last year, 245,432 people received first-time work permits, and 157,445 renewed their permits.
Remittance inflows fluctuated across the months, with Rs 136.93 billion received from mid-July to mid-August, Rs 126 billion from mid-August to mid-September, Rs 144 billion from mid-September to mid-October, Rs 114 billion from mid-October to mid-November, Rs 119 billion from mid-November to mid-December, and Rs 119 billion from mid-December to mid-January.
