Foreign reserve increases by Rs 30 billion in June

KATHMANDU: Forex reserves improved slightly in June. The forex reserves stood at Rs 1,176.84 billion as of mid-June.

Such reserves stood at Rs 1,146.88 billion in mid-April. In the same month, there was an increase of Rs 29.96 billion in reserves.

According to data released by Nepal Rastra Bank, total foreign exchange reserves declined by 15.9 per cent to Rs 1,176.84 billion in June 2079.

According to NRB, in US dollar terms, such reserves declined by 19.6 per cent to Rs 9.45 billion in mid-June 2079 from Rs 11.75 billion in mid-July 2078.

Of the foreign exchange, Rs 10.31 billion is with the central bank and the remaining Rs 144.95 billion is with other banks.

Based on 11 months of imports in FY 2078/79, the banking sector’s foreign exchange reserves would be sufficient to support 7.53 months of imports of goods and 6.73 months of imports of goods and services.