Nepal’s foreign exchange reserves reach highest in 5 years

Kathmandu, September 28

The country’s foreign exchange reserves have reached the highest point in the past five years, apparently due to import restrictions caused by the global Covid-19 crisis.

After calculating the import data of the first month of the fiscal year 2020/21 (mid-July-mid-August 2021), Nepal Rastra Bank says the value of the country’s foreign exchange reserves is Rs 1 trillion and 436 billion.

The amount is sufficient to import goods and services for the next 15.6 months.

Of the total reserves, the central bank has Rs 1 trillion and 160 million whereas Rs 176 billion is with other banks and financial institutions.