During Corona Epidemic : 780.78 million Remittances Entered Nepal [How Much From Which Country
During Corona Epidemic : 780.78 million
Remittances Entered Nepal [How Much From Which Country?
Rabindra Dhungel
Due to the global spread of corona virus, a large number of Nepalese in foreign employment have returned home since last February.
Although the data received from Nepal Rastra Bank shows that remittances of Rs. 780.78 million were received during this period.
Remittances during this period accounted for 19 percent of the Gross Domestic Product (GDP). Apart from this, various other statistics show that remittances entered Nepal through various channels.
The highest remittances came from the United States:
Currently, Nepal has received remittances from USA, Qatar, India, Malaysia, Saudi Arabia, UAE, Japan, Australia, South Korea, Kuwait, UK, Bahrain and other countries through formal channels.
Statistics show that most of them received remittances from the United States. The US accounted for 21 percent or Rs 146.2 billion of the total remittances received from February to November.
Suman Pokharel, CEO of IME Money Transfer, who is also the chairman of the Remittance Association, says that the remittances coming from the United States may be high as some remittance companies have accounts in the United States and even if they are sent to Nepal from the Gulf.
Western Union Money Transfer and MoneyGram have partnered with US banks. Therefore, remittances sent from other countries also appear to have come from the United States.
Western Union and MoneyGram account for about 25 percent of the total remittances entering Nepal.
According to Chandra Tandon, Managing Director of Citi Express Money Transfer, remittances from the US and Europe are more likely to come in the future.
How much from which country?
Similarly, out of the total remittances received by Nepal in the same period, 11 percent or Rs. 75.63 billion was from Qatar, 11 percent or Rs. 78.20 billion from India, 10 percent from Malaysia or Rs. Rs. 88.6 million has entered Nepal.
Similarly, the total remittances received by Nepal from mid-February to mid-November last year was 10 percent or Rs 73.13 billion from UAE and 8 percent or Rs 55.69 billion from Japan.
Australia's 4 percent or Rs 25.64 billion, South Korea's 5 per cent or Rs 33.41 billion, Kuwait's 2 per cent or Rs 15.79 billion and the UK's 2 percent or Rs 14.38 billion. Has come
Similarly, 1 percent or Rs 10.42 billion from Bahrain and 5 percent or Rs 33.59 billion from other countries have received remittances from last February to mid-November.
How much decreased / increased in which month?
According to the data received, a total of Rs. 79.25 billion was remitted to Nepal from the above mentioned countries in the month of February. Similarly, it has decreased by Rs. 44.73 billion to Rs. 34.51 billion in April.
Similarly, remittance of Rs. 53.97 billion was Rs. 19.45 billion more than the month of April.
However, the remittances received in April Last increased by Rs 40.58 billion in June, or Rs 93.97 billion. Remittance has increased by Rs. 7.39 billion to Rs. 101.36 billion in July compared to the previous month.
Statistics show that remittance inflows started declining after July. The remittance received in July has decreased by Rs. 8.64 billion in July. In that month, only Rs 92.72 billion was remitted to Nepal. Remittances received in July decreased by Rs. 19.69 billion in August to Rs. 73.26 billion.
Remittances to Nepal increased by Rs. 20.11 billion in October compared to the previous month. According to the data published , remittances to Nepal decreased by Rs. 14.31 billion in October / November compared to October / November. Remittance of Rs. 78.82 billion was received in November.
Remittances Entered Nepal [How Much From Which Country?
Rabindra Dhungel
Due to the global spread of corona virus, a large number of Nepalese in foreign employment have returned home since last February.
Although the data received from Nepal Rastra Bank shows that remittances of Rs. 780.78 million were received during this period.
Remittances during this period accounted for 19 percent of the Gross Domestic Product (GDP). Apart from this, various other statistics show that remittances entered Nepal through various channels.
The highest remittances came from the United States:
Currently, Nepal has received remittances from USA, Qatar, India, Malaysia, Saudi Arabia, UAE, Japan, Australia, South Korea, Kuwait, UK, Bahrain and other countries through formal channels.
Statistics show that most of them received remittances from the United States. The US accounted for 21 percent or Rs 146.2 billion of the total remittances received from February to November.
Suman Pokharel, CEO of IME Money Transfer, who is also the chairman of the Remittance Association, says that the remittances coming from the United States may be high as some remittance companies have accounts in the United States and even if they are sent to Nepal from the Gulf.
Western Union Money Transfer and MoneyGram have partnered with US banks. Therefore, remittances sent from other countries also appear to have come from the United States.
Western Union and MoneyGram account for about 25 percent of the total remittances entering Nepal.
According to Chandra Tandon, Managing Director of Citi Express Money Transfer, remittances from the US and Europe are more likely to come in the future.
How much from which country?
Similarly, out of the total remittances received by Nepal in the same period, 11 percent or Rs. 75.63 billion was from Qatar, 11 percent or Rs. 78.20 billion from India, 10 percent from Malaysia or Rs. Rs. 88.6 million has entered Nepal.
Similarly, the total remittances received by Nepal from mid-February to mid-November last year was 10 percent or Rs 73.13 billion from UAE and 8 percent or Rs 55.69 billion from Japan.
Australia's 4 percent or Rs 25.64 billion, South Korea's 5 per cent or Rs 33.41 billion, Kuwait's 2 per cent or Rs 15.79 billion and the UK's 2 percent or Rs 14.38 billion. Has come
Similarly, 1 percent or Rs 10.42 billion from Bahrain and 5 percent or Rs 33.59 billion from other countries have received remittances from last February to mid-November.
How much decreased / increased in which month?
According to the data received, a total of Rs. 79.25 billion was remitted to Nepal from the above mentioned countries in the month of February. Similarly, it has decreased by Rs. 44.73 billion to Rs. 34.51 billion in April.
Similarly, remittance of Rs. 53.97 billion was Rs. 19.45 billion more than the month of April.
However, the remittances received in April Last increased by Rs 40.58 billion in June, or Rs 93.97 billion. Remittance has increased by Rs. 7.39 billion to Rs. 101.36 billion in July compared to the previous month.
Statistics show that remittance inflows started declining after July. The remittance received in July has decreased by Rs. 8.64 billion in July. In that month, only Rs 92.72 billion was remitted to Nepal. Remittances received in July decreased by Rs. 19.69 billion in August to Rs. 73.26 billion.
Remittances to Nepal increased by Rs. 20.11 billion in October compared to the previous month. According to the data published , remittances to Nepal decreased by Rs. 14.31 billion in October / November compared to October / November. Remittance of Rs. 78.82 billion was received in November.
