Nepal’s foreign exchange reserves have surpassed the impressive figure of Rs 2500 billion. As reported by the Nepal Rastra Bank (NRB) in their financial update for the first ten months of the current Fiscal Year (FY), the reserves reached Rs 2512 billion by mid-May.
This represents a significant increase of 23.1 percent compared to the end of the previous FY. In related news, foreign exchange reserves have recently exceeded Rs 2426 billion. By mid-May, the foreign exchange reserves in Nepal amounted to USD 18.4 billion, reflecting a robust 20.5 percent growth in comparison to the close of the last FY.
Out of the total reserves, Rs 2211 billion is retained by NRB, while banks and financial institutions collectively possess Rs 301.83 billion. Additionally, Indian currency constitutes 21.2 percent of the total foreign exchange reserves.
According to the NRB, based on the import data from the first ten months of FY 2024/25, the current foreign exchange reserves within the banking sector are adequately positioned to cover 17.4 months of merchandise imports and 14.6 months of imports for goods and services.
