Nepal's External Sector Shows Positive Trends Through Mid-January of FY 2082/83, Says Central Bank
Summary
Nepal's external sector shows a positive trend in the first half of fiscal year 2082/83 with high current account surplus, increased foreign exchange reserves, and rising foreign direct investment, according to Nepal Rastra Bank.
Key Points
- Nepal's current account surplus reached Rs 493.78 billion up to the end of Magh in FY 2082/83, significantly higher than last year's Rs 184.14 billion.
- The balance of payments recorded a surplus of Rs 572.73 billion during the same period, doubling last year's Rs 284.41 billion.
- Foreign exchange reserves increased by 23.3% over seven months to Rs 3,302.66 billion, equivalent to $22.76 billion, sufficient to cover 18 months of imports.
- Foreign Direct Investment inflow (equity only) rose to Rs 10.22 billion compared to Rs 7.43 billion in the previous year.
