Foreign exchange reserves cross Rs 33 trillion

Kathmandu. Nepal’s total foreign exchange reserves have crossed Rs 33 trillion as of mid-January of the current fiscal year.

According to the current economic and financial situation report released by Nepal Rastra Bank (NRB) on Wednesday, the foreign exchange deposit increased by 23.3 per cent to Rs 3.3 trillion from Rs 26.77 trillion in the review period of mid-July last year.

Such reserves in US dollar terms increased by 16.7 percent to Rs 22.76 billion in mid-July from Rs 19.5 billion in mid-July last year. Out of the total reserves, the reserve of Nepal Rastra Bank has also increased. Such reserves have increased by 21.2 percent to Rs 2.926 trillion by mid-February from Rs 2.414 trillion in mid-July 2018. According to the Nepal Rastra Bank, the share of Indian currency in the total foreign exchange reserves is 21.5 percent.

According to the NRB, the current foreign exchange reserve is sufficient to sustain the import of goods for 21.3 months and goods and services for 18 months.