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The country’s coffers have Rs 3.755 trillion, enough to sustain imports for more than 19 months.

. The country’s foreign exchange reserves have improved significantly as the country’s external sector has strengthened.  The total foreign exchange reserves increased by 40.3 percent to reach Rs 3.755 billion in mid-June 2008 from Rs 2,677.68 billion in the first 11 months of the fiscal year 2082/83.

According to the Nepal Rastra Bank, such reserves in US dollars increased by 26.5 percent to $24.68 billion in the first 11 months of the current fiscal year compared to $19.5 billion in mid-July 2082.TAG_OPEN_div_14

Out of the total reserves, the reserves of Nepal Rastra Bank increased by 37.9 percent to Rs.TAG_OPEN_div_12 The reserves of banks and financial institutions increased by 61.8 percent to Rs.425.57 billion, while the reserves of banks and financial institutions increased by 61.8 percent to Rs.425.57 billion. The share of Indian currency in the total reserves is 21.5 percent.

Based on the trend of imports in the 10 months of the fiscal year 2 TAG_OPEN_div_10 082/83, the foreign exchange reserve with the current banking sector is sufficient to sustain the import of goods for 22.5 months and goods and services for 19.1 months. The ratio of foreign exchange reserves to GDP reached 61.5 percent in mid-June from 43.8 percent in the previous year.

During the same period, the current account position was Rs.802.06 billion and the balance of payment position was Rs.926.06 billion.TAG_OPEN_div_8

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