Kathmandu. Nepal’s total foreign exchange reserves increased by 45.6 percent to Rs 3897.67 billion in a year. According to the Nepal Rastra Bank, the total foreign exchange reserves have increased significantly from Rs 2677.68 billion in mid-July 2082.

The foreign exchange reserves have also increased in terms of US dollars. According to the Nepal Rastra Bank, the reserves have increased by 29.8 percent from US $ 19.5 billion in mid-July 2082 to $ 25.31 billion in mid-July 2083.

Out of the total foreign exchange reserves, the reserves of the Nepal Rastra Bank increased by 43.8 percent to Rs 3.473 trillion. At the end of July 2082, the NRB had such reserves of Rs 2,414.64 billion.

Similarly, the foreign exchange reserves with banks and financial institutions have also increased by 61.4 percent. The reserves have increased from Rs 263.4 billion in mid-July 2082 to Rs 424.48 billion in mid-July 2083. According to the Rastra Bank, the share of Indian currency in the total foreign exchange reserves as of Ashad 2083 BS was 22.3 percent.

Based on the imports of the fiscal year 2082÷83, the foreign exchange reserves with the banking sector are sufficient to sustain 23 months of goods imports and 19.6 months of goods and services imports. This indicates a significant improvement in the situation of Nepal’s external sector and foreign exchange reserves.

Similarly, the ratio of foreign exchange reserves to gross domestic product (GDP), total imports and broad currency supply stood at 63.8 per cent, 163.4 per cent and 43.8 per cent, respectively. These ratios were 43.8 per cent, 128.1 per cent and 34.1 per cent respectively at Ashad 1982.