Kathmandu: Nepal’s foreign exchange reserves have increased by 7.6% to reach Rs. 2,881.35 billion by the end of Bhadra in the fiscal year 2082/83, according to a report published by Nepal Rastra Bank.
The central bank’s *Current Macroeconomic and Financial Situation Report* for the first two months of FY 2082/83 shows that total reserves stood at Rs. 2,677.68 billion at the end of Ashar 2082, which rose to Rs. 2,881.35 billion by the end of Bhadra.
In U.S. dollar terms, the reserves increased by 4.7%, from USD 19.50 billion at the end of Ashar to USD 20.41 billion at the end of Bhadra.
Out of the total reserves, the holdings with Nepal Rastra Bank rose by 6.9%, from Rs. 2,414.64 billion to Rs. 2,582.38 billion. Similarly, the reserves held by banks and financial institutions (excluding the central bank) grew by 13.7%, from Rs. 263.04 billion to Rs. 298.97 billion.
The share of Indian currency in the total reserves stood at 22.5% at the end of Bhadra 2082.
Based on the import data of the second month of the fiscal year, the banking sector’s current foreign exchange reserves are sufficient to cover 19.7 months of merchandise imports and 16 months of goods and services imports.
As of Bhadra 2082, the ratios of total foreign exchange reserves to GDP, total imports, and broad money supply were 47.2%, 133.1%, and 36.6% respectively—up from 43.8%, 128.1%, and 34.1% at the end of Ashar 2082.
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