Nepal Breaking NewsFinanceCurrent-account deficit of Rs 293.97 billion

Current-account deficit of Rs 293.97 billion

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In the 11 months of the current fiscal year, the current account deficit remained at Rs 293.97 billion.

According to information released by the Nepal Rastra , the current account deficit has increased in period compared to a comparable period in the previous fiscal year.

In the same period the previous fiscal year, the current account deficit was Rs 62.56 billion.

In US dollar terms, the current account deficit in the review period was 2.51 billion, compared to a deficit of 578.5 billion in the same period the previous year.

Similarly, capital transfers increased by 8.4% to Rs 14.15 billion, while direct investment (FDI) decreased by 13.4% to Rs 16.20 billion.

Capital transfer and net FDI totaled Rs 13.05 billion and 18.72 billion in the same period the previous fiscal year, respectively.

The balance of payments (BOP) recorded a deficit of Rs 15.15 billion in the review period, compared to a surplus of Rs 179.37 billion in the previous fiscal year’s same period.

In US dollars, the BOP recorded a deficit of 140.8 billion in the review period, compared to a surplus of 0 billion in the previous year’s same period.

According to the central bank, the total foreign exchange reserve has decreased by 2.6 percent to more than Rs 1,365 billion until June 14, 2021, down from more than Rs 1,401 billion until July 15, 2020, the last day of the fiscal year /20.

The Nepal Rastra Bank’s reserve has decreased by 2.3 percent to more than Rs 1,197 billion, compared to more than Rs 1,226 billion in the same period last fiscal year.

The total foreign exchange reserve banks and financial institutions in Nepal have decreased by 4.4 percent to Rs 168 billion, compared to more than Rs 275 billion in the same period last fiscal year.

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