Foreign exchange reserves exceeded 20 trillion, enough to meet 13 months of imports

Kathmandu, August 2. Foreign exchange reserves increased by 32.6% in one year, exceeding 20 trillion rupees.

According to the Economic and Financial Status Report for the fiscal year 2080/81 released by Nepal Rastra Bank, the total foreign exchange reserves have reached 20 trillion 410.1 billion.

This is an increase of 32.6% from the end of June 2080. As of the end of June 2080, the total foreign exchange reserves stood at Rs.15,390,360 crore.

At the end of June 2080, the US dollar foreign exchange reserves were 11.71 billion, an increase of 30.4%, and at the end of 2081, they were 15.27 billion.

Of the total foreign exchange reserves, the reserves of the People’s Bank of India remained at Rs 18,480,550,000. At the end of June 2080, the foreign exchange reserves of banks and financial institutions were Rs 1,093,059,000,000 and at the end of 2081, it was Rs 1,092,055,000,000,000,000,000,000,000. As of mid-June 2081, the proportion of Indian currency in total foreign exchange reserves was 22.5%.

Foreign exchange reserves can cover 13 months of imports

The National Bank said that taking into account the import base in the 2080/81 fiscal year, foreign exchange reserves held by the banking sector will be sufficient to support 15.6 months of goods imports and 13 months of goods and services imports.

At the end of June 2081, foreign exchange reserves accounted for 35.8% of GDP, 108.6% of total imports, and 29.3% of broad money supply.

At the end of June 2080, it accounted for 28.8% of GDP, 83% of total imports, and 25% of broad money supply.