Monday Dec 6, 2021
Monday Dec 6, 2021
Civil Bank

Balance of Payments at deficit of Rs 15.15 billion


Nepalnews
2021 Jul 15, 14:18, KATHMANDU
The country’s Balance of Payments registered a deficit of Rs 15.15 billion in the 11th month of the current fiscal year 2020/21 against a surplus of Rs 179.37 billion in the corresponding period of the previous year.

The country’s Balance of Payments (BOP) registered a deficit of Rs 15.15 billion in the 11th month of the current fiscal year 2020/21 against a surplus of Rs 179.37 billion in the corresponding period of the previous year, according to the macroeconomic report issued by Nepal Rastra Bank (NRB) today.

In US dollar terms, the BOP recorded a deficit of $140.8 million in the review period against a surplus of $1.50 billion in the same period of the previous year.

Similarly, the NRB report states that the country’s current account remained at a deficit of Rs 293.97 billion in the review period compared to a deficit of Rs 62.59 billion in the corresponding period of the previous fiscal year. In US dollar terms, the current account registered a deficit of $2.51 billion in the review period compared to a deficit of $578.5 million in the same period of the previous year.

Meanwhile, in the review period, capital transfer increased 8.4 per cent to Rs 14.15 billion and net foreign direct investment (FDI) decreased 13.4 per cent to Rs 16.20 billion. In the same period of the previous fiscal year, capital transfer and net FDI amounted to Rs 13.05 billion and Rs 18.72 billion, respectively.

The central bank report further states that gross foreign exchange reserves decreased 2.6 per cent to Rs 1,365.65 billion in mid-June 2021 from Rs 1,401.84 billion in mid-July 2020. In US dollar terms, the gross foreign exchange reserves increased 0.6 per cent to $11.71 billion in mid-June 2021 from $11.65 billion in mid-July 2020.

The reports adds that of the total foreign exchange reserves, reserves held by NRB decreased 2.3 per cent to Rs 1,197.65 billion in mid-June 2021 from Rs 1,226.12 billion in mid-July 2020. Likewise, reserves held by banks and financial institutions, except Nepal Rastra Bank, decreased 4.4 per cent to Rs 168 billion in mid-June 2021 from Rs 175.71 billion in mid-July 2020.

The share of Indian currency in total reserves stood at 24.6 per cent in mid-June 2021.

Balance of Payments deficit BOP fiscal year macroeconomic Nepal Rastra Bank NRB current account capital transfer Foreign direct investment FDI
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