Nepal Rastra Bank Forex Exchange Rate

Nepal Rastra Bank Forex Exchange Rate – Nepal Rastra Bank Department of Economic Research, Balwatar, Kathmandu Current Economic and Financial State of Nepal (Based on Quarterly Data Ended Mid-October 2022/23)

1. Consumer price inflation stood at 8.50 percent in mid-October 2022, up from 4.24 percent a year ago. While food inflation was 8.05 percent in the analyzed month, non-food and services inflation was recorded as 8.85 percent.

Nepal Rastra Bank Forex Exchange Rate

2. 91 percent of consumer price inflation increased in food items, restaurants and hotels, 12.06 percent in fruit, 10.24 percent in alcoholic beverages, and 9.45 percent in dairy products, eggs and tobacco products. . 8.44%

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3. In the non-food and services group, consumer prices increased by 21.15 percent in the transportation subgroup, 10.54 percent in health, 9.45 percent in furniture and household goods, 8.11 percent and 8.11 percent in education compared to the previous year. Housing and Public Services increased by 7.68%. .

4. In the month under review, consumer price inflation rose to 6.93 percent, 9.42 percent, 8.84 percent and 7.07 percent in Kathmandu Valley, Terai, Pahari and Mountain, respectively. A year ago, inflation rates in these regions were 3.48 percent, 4.01 percent, 5.68 percent and 3.12 percent, respectively.

5. The current year wholesale price inflation rose to 13.73 percent, compared to 3.83 percent in the previous year.

6. Compared to the same period of the previous year, wholesale prices of consumer goods increased by 24%, intermediate goods by 17.13% and capital goods by 6.00%. The wholesale price of construction materials increased by 19.27% ​​in the month under review.

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7. Annual salary and wage rate index rose to 11.59 percent from 4.92 percent the previous year. The salary index and wage rate index increased by 12.39 percent and 11.34 percent, respectively, in the month examined.

8. As of mid-October 2022, annual consumer price inflation in Nepal stood at 8.50 percent. In October 2022, such inflation in India amounted to 6.77%.

9. Goods exports fell 35.7 percent to Rs 41.82 billion in the three months of 2022/23 compared to growth of 109.5 percent in the same period last year. According to the targets, exports to India and China decreased by 45.0 percent and 35.0 percent, respectively, while exports to other countries increased by 5.0 percent. During the review period, exports of zinc plate, particle board, wool carpet, ready-made clothing, tea and other exports increased, while exports of soybean oil, palm oil, pulp, jute goods, silverware and jewelry decreased.

10. Imports of goods fell 16.2 percent to Rs 401 billion in the three months of 2022/23 compared to growth of 63.7 percent a year earlier. According to targets, imports from India, China and other countries decreased by 14.8%, 16.7% and 19.2% respectively. Imports of petroleum products, chemical fertilizers, sponge iron, drugs, coal and others increased, while imports of transportation equipment, silver, telecommunications equipment and accessories, crude soybean oil, MS increased. In addition to rods, rods, coils and more, inspection time has been reduced.

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11. On the basis of customs points, exports from Dry Port, Jaleswar, Kelali, Krishna Nagar, Mechi and Tribhuvan Airport customs offices increased during the review period, while exports from all other important customs points decreased. On the import side, imports from Dryport, Jaleswar and Tatopani customs offices increased during the review period, while imports from all other major customs points decreased.

12. Total trade deficit narrowed by 13.1% to Rs 359.18 billion in the three months of 2022/23. These losses increased by 58.3 percent in the same period of last year. The export-import ratio, which was 13.6 percent in the same period of the previous year, decreased to 10.4 percent in the review period.

13. In the three months of 2022/23, imports of goods from India via convertible currency payments were Rs 34.59 billion. In the same period last year, this amount was 54.17 billion rupees.

14. According to Broad Economic Categories (BEC), intermediate and final consumption goods constituted 57.0 percent and 43.0 percent of total exports, respectively, while the share of capital goods in total exports remained at a negligible level with 0.03 percent during the review period. In the same period of the previous year, the share of intermediate, capital and final consumption goods in total exports was 41.8%, 0.03% and 58.2%, respectively.

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15. On the import side, during the review period, intermediate goods with 53.2 percent, capital goods with 8.3 percent and final consumption goods with 38.5 percent. In the same period of the previous year, these rates were 53.0 percent, 11.0 percent and 36.0 percent, respectively. Export Import Price Index

16. According to customs data, annual unit value export price index and import price index increased by 4.1 percent and 12.4 percent in the third month of 2022/23. The Terms of Trade (ToT) index fell 7.4 percent in the month under review, compared to a 3.1 percent drop a year ago.

17. Net service income amounted to a loss of Rs 21.70 billion during the review period compared to a loss of Rs 23.34 billion in the same period last year.

18. Under the service account, travel revenue from Rs 5.42 billion in the same period last year increased by 110.4 percent to Rs 11.41 billion during the review period.

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19. Travel payments under service account increased 62.3 percent to Rs 26.04 billion, including Rs 17.89 billion for education. Such payments were Rs 16.04 billion and Rs 8.92 billion respectively in the same period last year. Transfer

20. Remittance inflows rose 16.8 percent to Rs 281.05 billion during the review period, compared to a 7.1 percent decline in the same period last year. In terms of US dollars, remittance inflows, which were 7.1 percent in the same period of last year, increased by 7.9 percent to 2.19 billion.

21. The number of Nepali workers seeking new approvals for foreign employment (corporate and individual) rose 123.1 percent to 147,932 during the review period. Similarly, the number of Nepali workers who received re-entry approval for foreign employment increased by 66.2 percent to 57,861 during the review period. In the same period of last year, it increased by 219.7 percent.

22. Net transfers increased 17.1 percent to Rs 310.43 billion during the review period. In the same period of last year, such transfers decreased by 7.6 percent. Current Account and Balance of Payments

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23. The current account deficit during the review period amounted to Rs 34.28 billion compared to Rs 149.81 billion in the same period last year. The current account balance, in USD terms, gave a deficit of 269.5 million in the review period compared to the 1.26 billion deficit in the same period of the previous year.

24. During the review period, capital transfers increased 34.8 percent to Rs 2.59 billion and net foreign direct investment (FDI) increased to Rs 79.6 million. In the same period last year, capital transfer and net foreign direct investment were Rs 1.92 billion and Rs 5.07 billion, respectively.

25. The Balance of Payments (BOP) posted a surplus of Rs 12.43 billion during the review period, versus a deficit of Rs 87.71 billion in the same period last year. In USD terms, the BOP posted a surplus of 91.8 million during the review period, compared to a deficit of 741.2 million in the same period last year. Currency reserves

26. Gross foreign exchange reserves increased by 5 percent from Rs 1215.80 billion in mid-July 2022 to Rs 1246.22 billion in mid-October 2022. 9.54 billion by mid-July 2022.

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27. Of the total foreign exchange reserves, the reserves held by the NRB increased by 4.3% from Rs 1056.39 billion in mid-July 2022 to Rs 1101.60 billion in mid-October 2022. Deposits of banks and financial institutions (excluding NRB) fell 93 percent. Rs 159.41 billion mid-July 2022, Rs 144.62 billion mid-October 2022. The share of Indian currency in total reserves stood at 23.8 percent in mid-October 2022.

28. The foreign exchange reserves of the banking sector are sufficient to meet the anticipated trade imports of 9.6 months and the imports of goods and services of 8.3 months, according to the quarterly imports of the 2022/23 period. The ratio of reserves to GDP, reserves to imports and reserves to M2 were 25.7 percent, 69.5 percent and 22.5 percent, respectively, in mid-October 2022. This rate was 25.1, 57.8 and 22.11 percent, respectively. Mid-July 2022. Oil and gold prices

29. The price of oil (crude oil Brent oil) in the international market rose 7.5% in mid-October 2022, from USD 84.67 per barrel a year ago to USD 91.04 per barrel. Gold prices fell 6.1 percent to $1,664.75 in mid-October 2022, from $1,772.65 an ounce a year ago. exchange rate

30. The US dollar lost 3.01% against the Nepalese currency between mid-July 2022 and mid-October 2022. In the same period of last year, its value had decreased by 0.90%. The purchase rate per US dollar was Rs 131.47 mid-October 2022 versus Rs 127.51 mid-July 2022.

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31. Total Federal Government Expenditure for the quarter 2022/23 according to the General Office of Financial Supervision (FCGO) of the Ministry of Finance

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