Kathmandu. As of mid-October of the current fiscal year, the total foreign exchange reserves increased by 11.3 percent to Rs 2979.81 billion. It was Rs 2,677.68 billion in mid-July 2018.

Similarly, such reserves in US dollars stood at Rs. 19.5 billion in mid-July 2082. It increased by 8.7 percent to Rs 21.21 billion in mid-October. Out of the total foreign exchange reserves, the reserve of Nepal Rastra Bank (NRB) increased by 10.5 per cent to Rs 2,667.70 billion as of mid-July from Rs 2,414.64 billion in mid-July (mid-July 2018).

The foreign exchange reserves with the banks and financial institutions (excluding Nepal Rastra Bank) increased by 18.7 percent to Rs 312.10 billion as of mid-July 2022 from Rs 263.04 billion in mid-July 2022.

The share of Indian currency in the total foreign exchange reserves was 24 percent. Based on the imports up to the third month of the fiscal year 2082/83, the foreign exchange reserve with the banking sector is sufficient to sustain the import of goods for 19.9 months and goods and services for 16.4 months.

The ratio of foreign exchange reserves to Gross Domestic Product (GDP), total imports and broader currency supply stood at 48.8 percent, 136.6 percent and 36.8 percent respectively. Such ratios were 43.8 percent, 128.1 percent and 34.1 percent respectively in mid-July 2018.