Kathmandu. In the first six months of the current fiscal year, remittance inflows have declined by 5.5 percent in Nepali Rupees and 6.2 percent in US Dollars. This is seen in the current economic and financial situation of the country for the first six months of the current fiscal year released by the Nepal Rastra Bank.

According to the data, remittance inflows declined by 5.5 percent to Rs. 468.45 billion in the first six months of the current fiscal year. The remittance inflow had increased by 11.1 percent in the corresponding period of the previous year. In US dollar terms, remittance inflows declined by 6.2 percent to Rs 3.93 billion. Such inflows had increased by 6.7 percent in the previous year.

During the review period, the number of Nepalis seeking final labor permit (institutional and individual-new and legalized) for foreign employment increased significantly to 1,67,513. Such number had decreased by 89.0 percent in the corresponding period of the previous year. Similarly, the number of Nepalis seeking re-employment for foreign employment increased by 298.1 percent during the review period to 130,212. Such number had decreased by 75.5 percent in the corresponding period of the previous year.

Net transfer decreased by 4.9 percent to Rs. 523.01 billion during the review period. Such transfers had increased by 8.9 percent in the corresponding period of the previous year.