Income from tourism, a mainstay of the economy in the country which is home to eight of the world's 14 highest mountains including Mount Everest, more than doubled to $216 million for the mid-July to mid-January period from a year earlier, the central bank said. Remittances from nearly five million Nepalis working overseas, mainly in Malaysia, Korea and the Middle East, increased 13.9% to $4.5 billion between mid-July and mid-January this year, central bank data showed. (Writing by Shivam Patel; Editing by Kirsten Donovan)
Messaging: gopal.sharma.reuters.com@reuters.net)) By Gopal Sharma
KATHMANDU, Feb 6 (Reuters) - Nepal's foreign exchange
reserves rose to $10.3 billion as of mid-January, helped by a
boost in tourism earnings and remittances from Nepalis living
overseas, the central bank of the Himalayan nation said on
Monday.
Forex reserves rose 8% from $9.54 billion six months ago and
are sufficient to cover more than nine months of merchandise and
services imports, the Nepal Rastra Bank said in a statement.
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