Remittances hit all-time high as Nepalis send Rs4.72 billion daily
Summary
Nepalis working abroad sent home a record Rs1.72 trillion in remittances in the last fiscal year, averaging Rs4.72 billion daily, driven by rising outmigration and stronger foreign currencies against the rupee.
Key Points
- Nepal received Rs1.72 trillion in remittances in the last fiscal year, a 19% year-on-year growth.
- Daily remittances from Nepalis abroad reached Rs4.72 billion, marking an all-time high.
- Outmigration increased with 505,957 new foreign employment departures and 333,309 work permit renewals last year.
- Shift from informal hundi transfers to formal channels has increased, supported by stricter regulations and licensed companies.
