KATHMANDU, Feb. 2 (Xinhua) -- Nepal continued to see its remittance inflow and foreign exchange reserves go up in the first half of the 2024-25 fiscal year, the central bank said on Sunday.

The forex reserves stood at 16.84 billion U.S. dollars by mid-January, up 10.3 percent over the same period of the previous 2023-24 fiscal year, the Nepal Rastra Bank said in a report.

Remittances to Nepal rose by 1.1 percent to 5.58 billion dollars during the period.

Nepal's forex reserves and remittances gained by 9.7 percent and 4.4 percent, respectively, during the first five months of fiscal 2024-25.

"Based on the imports during the six months of fiscal year 2024-25, the foreign exchange reserves are sufficient to cover prospective merchandise imports for 17.3 months and merchandise and services imports for 14.4 months," the central bank report noted. Enditem

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