KATHMANDU: Nepal has set a new record for monthly remittance inflow, with Rs 176.32 billion received in Jestha (mid-May to mid-June) of the current fiscal year 2081/82 (2024/25).

This marks the highest monthly remittance ever recorded. The previous record was set just a month earlier in Baisakh, with Rs 165 billion received.

With this surge, the total remittance inflow for the first 11 months of the fiscal year has reached Rs 1.532 trillion. This is a 15.5 percent increase compared to the same period last fiscal year.

However, while the total amount has increased, the growth rate has slowed slightly compared to last year. In the same 11-month period of the previous fiscal year, remittance inflow had risen by 17.2 percent.

According to data from Nepal Rastra Bank, the remittance inflow in US dollars grew by 12.7 percent, reaching USD 11.25 billion. In the same period last year, dollar-denominated remittances had increased by 15.2 percent.

Meanwhile, net secondary income (net transfers) during the review period reached Rs 1.683 trillion, up from Rs 1.431 trillion in the corresponding period last year.

In terms of labor migration, 452,324 individuals obtained new labor approvals, while 308,067 individuals received re-approvals for foreign employment during the same 11-month period.