Tuesday, 23 July, 2024

Persistence stress in external sector as BoP deficit hits Rs. 241.23 billion


By TRN Online, Kathmandu, Feb. 9:  External sector has continuously been undergoing a stress-laden situation as the Balance of Payment (BoP) deficit has hit Rs. 241.23 billion in the span of the past six months.

According to the Nepal Rastra Bank (NRB) report on the Current Macroeconomic and Financial Situation of Nepal, the BoP remained at a deficit of Rs. 241.23 billion in the first half of the current FY.

The Nepal Rastra Bank (NRB) report showed that the excessive imports and slide in remittance led to the BoP deficit in the first six months of the current fiscal year (FY). The report showed that imports increased by 51.1per cent and remittance decreased by 5.5 in the NPR term.

However, export increased by 95.5 per cent. With this, the foreign exchange reserve stood at USD 9.89 billion.