Nepal received more than Rs 436.36 billion in remittances during the first two months of fiscal year 2083/84, with inflows rising 23.9 percent compared with the same period a year earlier, according to data published by Nepal Rastra Bank. In US dollar terms, the amount increased 13.5 percent to $2.85 billion. Remittances in Bhadra alone reached Rs 221.31 billion, about Rs 6 billion more than in Shrawan.
Two-month remittance inflows rise
The two-month total represents a substantial increase over the corresponding period last year, when remittance inflows grew by 33.1 percent. The latest growth rate is therefore lower than the rate recorded a year earlier, even as the amount received continued to rise. The figures measure remittances over the opening two months of the current fiscal year, rather than a full-year total.
Nepal Rastra Bank’s figures put the rupee-denominated inflow at more than Rs 436.36 billion. In dollar terms, remittances rose by 13.5 percent to $2.85 billion. The two growth rates are reported in different currencies: the rupee figure increased more quickly than the dollar figure over the period. The reported data does not provide a separate explanation for that difference.
The figures show both the scale of remittance receipts in the period and the pace at which they grew compared with the same two months last year. The year-on-year comparison is important because the prior period recorded faster growth, at 33.1 percent. The current 23.9 percent increase indicates continued growth, but at a slower rate than the previous year’s increase.
Bhadra records higher monthly inflow
Remittances amounted to Rs 221.31 billion in Bhadra, the second month of the fiscal year. That was about Rs 6 billion more than the amount received in Shrawan, according to the reported figures. The monthly comparison shows that inflows increased from the first month to the second, while the two-month total exceeded Rs 436 billion.
The Bhadra figure accounts for slightly more than half of the reported two-month total. Since the reported difference between the two months is approximate, the figures should be read as rounded comparisons rather than as a precise breakdown. The available data gives the total for the two-month period, the Bhadra amount and the approximate change from Shrawan.
What the reported figures show
The data provides a short-term picture of remittance inflows at the start of fiscal year 2083/84. It records growth in both rupee and dollar terms and a higher monthly amount in Bhadra than in Shrawan. It also places the latest two-month growth rate alongside the faster increase recorded in the same period a year earlier.
The published figures do not specify the causes behind the increase, identify the countries from which the money was sent, or provide a breakdown by channel or household use. They therefore establish the value and growth of remittances during the period, but do not explain what drove the change. The data was reported by Ratopati, citing Nepal Rastra Bank.
For the first two months of the fiscal year, the headline figures are a total of more than Rs 436.36 billion, a 23.9 percent year-on-year rise in rupee terms and a 13.5 percent increase to $2.85 billion in dollar terms. Bhadra contributed Rs 221.31 billion, around Rs 6 billion more than Shrawan. Together, the figures show that remittance inflows remained higher than in the comparable period last year, although their growth rate was below the previous year’s 33.1 percent.
