Kathmandu. Nepal’s total foreign exchange reserves have reached Rs 3,242.45 billion as of mid-January. Such reserves have increased by 21.1 percent compared to Rs 2,677.68 billion in mid-July 2018. In US dollar terms, it reached Rs 22.47 billion, an increase of 15.2 percent.

Nepal Rastra Bank’s share in the total foreign exchange reserves stood at Rs 2,884.08 billion as against Rs 2,414.64 billion in the corresponding period of the previous year. The foreign exchange reserve of banks and financial institutions excluding Nepal Rastra Bank (NRB) has increased by 36.2 percent to Rs 358.37 billion.

The share of Indian currency in the total foreign exchange reserves as of mid-January 2008 stood at 22.3 percent. The adequacy indicator of foreign exchange reserves has also shown the economic security of the country. Based on imports for the first six months of the fiscal year 2082÷83, the foreign exchange reserve with the banking sector is 21. This is sufficient to sustain import of goods for four months and goods and services for 18.1 months.

The ratio of foreign exchange reserves to GDP stood at 53.1 percent, 150.7 percent to total imports and 40.5 percent to broad currency as of mid-January 2018. Such ratios were 43.8 percent, 128.1 percent and 34.1 percent respectively in the previous year.