Nepal Records Highest Monthly Remittance in Falgun of Current Fiscal Year

Nepal has witnessed an unprecedented influx of remittances in the month of Falgun (February/March) of the current fiscal year 2081/82 (2024/25). According to the Nepal Rastra Bank (NRB), a record-breaking NPR 151 billion in remittances was received in Falgun, marking it the highest amount ever recorded in a single month.

The NRB data reveals that by the end of Magh (January/February), total remittances stood at NPR 900 billion, which surged to NPR 1.051 trillion by the end of Falgun. This reflects a 9.4 percent increase in remittances compared to the same period in the previous fiscal year.

Prior to this, the highest single-month remittance was recorded in Asoj (September/October) of the current fiscal year, amounting to NPR 144 billion. However, Falgun’s figures have now surpassed that record.

In the last fiscal year, 2080/81 (2023/24), Nepal received an all-time annual high of NPR 1.445 trillion in remittances. Given the current trend, there is a strong possibility that this record could be broken by the end of the ongoing fiscal year.

During the review period, the number of Nepalis obtaining final labor permits for foreign employment reached 317,000, a significant rise from 217,000 in the same period last year.

This surge in remittances is seen as a positive sign for the economy. However, experts note that the increasing number of individuals seeking foreign employment also highlights the challenge of creating sufficient job opportunities within the country.