The gross foreign exchange reserves in the country has increased by 1.2 per cent to Rs 272.10 billion in mid-July 2011 from a level of Rs 268.91 billion as at mid-July 2010.
According to Nepal Rastra Bank (NRB), such reserves had gone down by 6.2 per cent in the previous year. Out of total reserve, NRB's reserves augmented by 3.8 per cent to Rs 213.09 billion in mid-July 2011 from a level of Rs 205.37 billion as at mid-July 2010.
Likewise, the gross foreign exchange reserves in USD terms increased by 6.2 per cent to USD 3.84 billion in mid-July 2011. Such reserves had decreased by 1.6 per cent in the last year.
Based on the trend of import during the review year, the current level of reserves is sufficient for financing merchandise imports of 8.4 months and merchandise and service imports of 7.3 months, adds the Bank.