Stories Tagged 'Foreign exchange reserves'
The government is preparing to tighten the payment system and foreign currency expenses amid growing pressure on the country’s foreign exchange reserves. A government panel formed last month to study the country’s deteriorating balance of payments situation said that service trade and imports were the key reasons behind the depletion of Nepal’s foreign currency reserves.
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Outflow of funds from the country’s economy surpassed inflows by Rs24.7 billion in the first eight months of the current fiscal year, as country’s trade deficit widened by over 23 percent.
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