Kathmandu. Compared to the previous fiscal year, the foreign exchange reserves in Nepal have increased last year.

Foreign exchange reserves increased by 31.2 per cent to Rs 2,677.68 billion in mid-July 2082 from Rs 2,041.10 billion in mid-July last year. Such reserves in US dollar terms increased by 27.7 percent from Rs 15.27 billion in mid-July 2081 to Rs 19.5 billion in mid-July 2082.

Out of the total foreign exchange reserves, nepal rastra bank’s reserves increased by 30.6 percent to Rs 2,414.64 billion in mid-July 2082 from Rs 1,848.55 billion in mid-July 2081.

The foreign exchange reserves of banks and financial institutions (excluding Nepal Rastra Bank) increased by 36.6 per cent to Rs 263.4 billion in mid-July 2082 from Rs 192.55 billion in mid-July 2081. According to the Nrb, the share of Indian currency in the total foreign exchange reserves stood at 23.1 percent as of mid-July 2018.

Based on imports for the fiscal year 2081/82, the foreign exchange reserves with the banking sector would be sufficient to sustain 18.2 months of goods imports and 15.4 months of goods and services imports.

The ratios of foreign exchange reserves to GDP, total imports and foreign exchange reserves stood at 43.8 per cent, 128.1 per cent and 34.1 per cent, respectively. The ratios were 35.8 per cent, 108.6 per cent and 29.3 per cent respectively in mid-July 2018.