सिंहदरबार संवाददाता
Kathmandu. Total foreign exchange reserves have reached more than 17 billion US dollars in the first 7 months of the current fiscal year. According to the data released by Nepal Rastra Bank today (Monday), foreign exchange reserves have reached 17.05 billion US dollars by the end of Magh of the current fiscal year.
Based on the current 7 months of imports, the foreign exchange reserves held by the banking sector are sufficient to cover 17.2 months of goods imports and 14.4 months of goods and services imports, the Rastra Bank has stated.
As of the end of Magh, the ratios of foreign exchange reserves to gross domestic product, total imports and broad money supply are 41.5 percent, 120.3 percent and 32.5 percent respectively. As of mid-Ashar 2081, these ratios were 35.8 percent, 108.6 percent, and 29.3 percent, respectively, according to data released by the Nepal Rastra Bank.
Similarly, inflation based on the Consumer Price Index on an annual point basis is 4.16 percent. Imports have increased by 10.1 percent and exports by 46.5 percent. According to data released by the Nepal Rastra Bank, remittance inflows have increased by 7.3 percent in Nepali rupees and 5.3 percent in US dollars.
Similarly, the balance of payments position is in surplus by 284.41 billion, while the government of Nepal’s expenditure is 754.85 billion and revenue mobilization is 642.85 billion. Broad money supply has increased by 4.4 percent. The money supply increased by 10.1 percent on an annualized basis, according to data from the Nepal Rastra Bank.
Deposit collection by banks and financial institutions increased by 3.8 percent and credit flow to the private sector increased by 5.6 percent. On an annualized basis, the growth rate of deposits was 9.7 percent and the growth rate of credit flow to the private sector was 73 percent, according to data from the Nepal Rastra Bank.
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