During the first four months of the current fiscal year (mid-July to mid-November), there has been a notable increase in remittance inflows to Nepal, reaching Rs.477.96 billion. This represents a substantial growth of 26.4 percent, as reported by the Nepal Rastra Bank (NRB) in its latest macroeconomic update.

Comparing this to the same period last year, the growth rate was at 20.4 percent. In US Dollar terms, remittance inflows during the review period increased by 23.1 percent, reaching 3.60 billion. This is a significant rise compared to the 10.8 percent increase observed in the same period of the previous year.

Additionally, the data reveals insights into the foreign employment scenario. In the review period, 137,475 Nepali workers, comprising both institutional and individual, obtained first-time approval for foreign employment. Meanwhile, 68,841 individuals received approval for renewing their entry. In the previous year, these numbers were higher, with 196,735 obtaining initial approval and 87,428 renewing their entry.