Inflation 3.65 percent, remittance up by 19.2 percent

Kathmandu / June 14: The CPI-based inflation stood at 3.65 percent on year-on-year basis while remittances increased by 19.2 percent in the last ten months of this fiscal year.

The Nepal Rastra Bank’s Current Macroeconomic and Financial Situation based on ten months data of FY 2020/21 showed that consumer price inflation stood at 3.65 in last ten months whereas it was 5.83 per cent a year ago.

Similarly, the remittance inflow increased by 19.2 percent jumping to Rs. 809.89 billion in the review period while it was decrease by 6.3 percent in the same period of the previous year.

However, Nepali workers taking approval for foreign employment decreased by 60.3 percent in the review period. It had decreased by 2.7 percent in the same period of previous year.

Also, the data showed the balance of payment remained at a surplus of Rs 7.75 billion. Besides this, the gross foreign exchange reserves stood at USD 11.87 billion.

Amid the crises, the private sector credit increased by 23.8 percent in the review period while it was increased by only 11.1 percent in the corresponding period of previous year.