Tag: Foreign

  • Nepal’s Macroeconomic Snapshot: Resilient Remittances, Forex Stability, and Balanced Trade Dynamics in the First Seven Months of 2023/24

    Nepal’s Macroeconomic Snapshot: Resilient Remittances, Forex Stability, and Balanced Trade Dynamics in the First Seven Months of 2023/24


    The Nepal Rastra Bank (NRB), the central bank of Nepal, has presented an overview of the country’s macroeconomic and financial situation based on data from the first seven months, ending mid-February of 2023/24.

    Overall

    According to NRB, the inflation rate was estimated at 5.01% on a year-on-year basis. The gross foreign exchange reserves reached USD 13.89 billion. Total imports decreased by 2.3%, exports by 7.1%, and the trade deficit by 1.8%. The NEPSE index stood at 2101.16.

    Inflation

    Year-on-year consumer price inflation moderated to 5.01% in mid-February 2024, compared to 7.88% a year ago. Wholesale price inflation stood at 2.82% in mid-February 2024.

    Import and Export

    Merchandise exports decreased by 7.1% to Rs. 86.83 billion, while merchandise imports decreased by 2.3% to Rs. 897.94 billion. The total trade deficit decreased by 1.8% to Rs. 811.11 billion.

    Services and Remittance

    Net services income remained at a deficit of Rs. 37.26 billion, while remittance inflows increased by 21.6% to Rs. 839 billion.

    Inter-bank Transaction

    BFIs inter-bank transactions amounted to Rs. 2872.44 billion. The price of oil decreased to USD 83.88 per barrel, and the price of gold increased to USD 2015.20 per ounce.

    Foreign Exchange Reserves

    Gross foreign exchange reserves increased to Rs. 1844.94 billion. Reserves held by NRB and other institutions increased, and the Indian currency’s share in total reserves stood at 22.6%.

    Exchange Rate

    The Nepalese currency depreciated by 1.05% against the US dollar.

    Nepal Government Expenditure and Revenue

    Total government expenditure stood at Rs. 686.75 billion, with revenue mobilization reaching Rs. 567.40 billion.

    Cash Balance of Government

    The cash balance at various accounts of the Government of Nepal (GoN) maintained with NRB stood at Rs. 215.26 billion.

    Banking

    Domestic credit increased by 3.2%, deposits at Banks and Financial Institutions (BFIs) increased by 7.0%, and private sector credit from BFIs increased by 4.1%.

    Interest Rates

    Average base rates of commercial banks, development banks, and finance companies stood at 9.06%, 11.13%, and 12.70%, respectively.

    Balance of Payments

    The Balance of Payments (BOP) remained at a surplus of Rs. 297.72 billion.

  • Banks planning to reduce deposit interest further, no approval required for foreign investment in stocks

    Banks planning to reduce deposit interest further, no approval required for foreign investment in stocks


    is this a good news?

    Sources: [https://merolagani.com/NewsDetail.aspx?newsID=99417](https://merolagani.com/NewsDetail.aspx?newsID=99417)

    [https://merolagani.com/NewsDetail.aspx?newsID=99415](https://merolagani.com/NewsDetail.aspx?newsID=99415)

    View on r/NepalStock by captainright1

  • Nepal Rastra Bank Reports Stable Macroeconomic Indicators and Financial Trends for Mid-January 2023/24

    Nepal Rastra Bank Reports Stable Macroeconomic Indicators and Financial Trends for Mid-January 2023/24


    The Nepal Rastra Bank, the central bank of Nepal, has disclosed the current macroeconomic and financial state of Nepal based on data from the first six months ending mid-January 2023/24. The overall assessment reveals that inflation remained at 5.26% on a year-on-year basis, and the gross foreign exchange reserves reached USD 13.69 billion. Total imports decreased by 3.1%, exports by 7.2%, and the trade deficit by 2.6% during the period.

    As of mid-January 2023, the outstanding concessional loan amounted to Rs. 155.40 billion, benefiting 133,174 borrowers. Notably, Rs. 104.73 billion was extended to 52,872 borrowers for selected commercial agriculture and livestock businesses, while Rs. 48.60 billion was loaned to 77,918 women entrepreneurs. The NEPSE index stood at 2120.62, a slight decrease from 2149.39 in mid-January 2023.

    In terms of inflation, the year-on-year consumer price inflation moderated to 5.26% in mid-January 2024 compared to 7.26% a year ago. The merchandise exports decreased by 7.2% to Rs. 74.97 billion, with a notable decline in exports to India by 12.8%, while exports to China and other countries increased significantly. Merchandise imports decreased by 3.1% to Rs. 768.17 billion, and the total trade deficit decreased by 2.6% to Rs. 693.20 billion.

    Services income remained at a deficit of Rs. 36.06 billion, while remittance inflows increased by 25.3% to Rs. 733.22 billion. Inter-bank transactions among financial institutions totaled Rs. 2574.20 billion. The price of oil in the international market decreased by 4.2%, and the price of gold increased by 5.6%.

    Foreign exchange reserves increased by 18.0% to Rs. 1816.57 billion in mid-January 2024. The Nepalese currency depreciated by 0.91% against the US dollar. Government expenditure decreased by 1.7% to Rs. 566.62 billion, while revenue mobilization increased by 8.2% to Rs. 496.50 billion.

    In the monetary sector, domestic credit increased by 2.6%, and deposits at Banks and Financial Institutions (BFIs) expanded by 6.6%. Private sector credit from BFIs increased by 4.0%. The average base rates of commercial banks, development banks, and finance companies stood at 9.35%, 11.49%, and 12.77% respectively.

    The Balance of Payments (BOP) remained at a surplus of Rs. 273.52 billion, an increase from Rs. 92.15 billion in the same period of the previous year. In US Dollar terms, the BOP surplus was 2.06 billion compared to 697.4 million a year ago.

  • Nepal Warehousing Company IPO for Foreign Nepalese Immigrants Oversubscribed 5.71 Times, Closing Today

    Nepal Warehousing Company IPO for Foreign Nepalese Immigrants Oversubscribed 5.71 Times, Closing Today


    Nepal Warehousing Company is set to conclude the issuance of its Initial Public Offering (IPO) for Foreign Nepalese Immigrants today, marking the 24th of Kartik as the closing day. The IPO, which opened on the 10th of Kartik, 2080, has a total issued capital of Rs. 68.75 Crores. Of this, 20%, equivalent to 13,75,000 unit shares worth Rs. 13.75 Crores, will be allocated for the general public. Within this public issue, 10% of the shares, totaling 1,37,500 units, have been earmarked for Nepalese citizens working abroad, and the subscription for this segment will close today.

    Out of the 13,75,000 units, 68,750 units (5% of the total) are reserved for mutual funds, and 27,500 units (2% of the total) are designated for the company’s employees. The remaining 11,41,250 units are available for the general public. Himalayan Capital is appointed as the issue manager for the IPO, with a minimum application quantity of 10 units and a maximum of 50,000 units.

    As per the Central Depository and Clearing Company (CDSC), substantial interest has been seen in the IPO, with 32,605 applicants applying for a total of 7,86,220 units. Consequently, the issue has already been oversubscribed by 5.71 times as of 10 AM today.

    ICRA Nepal has reaffirmed the issuer rating of [ICRANP-IR] BB- to Nepal Warehousing Company Limited. This rating suggests a moderate risk of default regarding the timely servicing of financial obligations for the company.

    Established under the Company Act, 2063 of Nepal, Nepal Warehousing Company aims to address the warehousing needs of farmers, traders, millers, and businessmen involved in grain trade for commercial and industrial purposes. The company seeks to combat post-harvest losses, maintain product quality, and address the challenge of preserving grains in a conducive environment. To achieve this, the company has installed high-quality silos with a capacity of 55,000 MT at three different locations in provinces 1, 2, and Lumbini province.

  • “Nepal Rastra Bank’s Mid-September 2023 Financial Snapshot: Inflation, Forex Reserves, and Economic Indicators”

    “Nepal Rastra Bank’s Mid-September 2023 Financial Snapshot: Inflation, Forex Reserves, and Economic Indicators”


    Nepal Rastra Bank, the central bank of Nepal, has released an overview of the current macroeconomic and financial situation in Nepal, based on data from the first two months ending in mid-September 2023.

    Inflation and Forex Reserves:The central bank reported an estimated year-on-year inflation rate of 8.19%. Nepal’s gross foreign exchange reserves stood at $12.01 billion, while total imports and exports declined by 5.1%, leading to a 4.7% reduction in the trade deficit.

    Concessional Loans: As of mid-September 2023, concessional loans amounted to NPR 195.62 billion, benefiting 144,758 borrowers, with a significant portion directed toward commercial agriculture, livestock, and women entrepreneurs.

    Stock Market: The NEPSE index in mid-September 2023 reached 1964.9, compared to 1910.4 in the same period the previous year.

    Inflation: Consumer price inflation for the same period was 8.19%, down from 8.64% the previous year. Wholesale price inflation also decreased significantly to 4.78%.

    Imports and Exports: Merchandise exports saw a 7.8% decrease in the first two months of 2023/24, while imports decreased by 5.1%. Exports to India declined, but exports to China and other countries increased.

    Services and Remittance: Nepal experienced a deficit in net services income, while remittances increased by 22.1%.

    Inter-bank Transactions:Interbank transactions, including those among commercial banks and other financial institutions, have seen a substantial increase.

    Oil and Gold Prices:The international price of oil increased, while gold prices also rose.

    Foreign Exchange Reserves: Gross foreign exchange reserves showed growth, covering a substantial portion of imports and other financial indicators.

    Exchange Rate:The Nepalese currency depreciated slightly against the US dollar.

    Government Expenditure and Revenue: The government’s expenditure and revenue figures were reported, providing insights into the country’s financial activities.

    Banking and Credit: Domestic credit decreased slightly, and the monetary sector’s claims on the private sector increased by 1.7%.

    Interest Rates: Various banking sectors reported their average base rates, which showed some variations compared to the previous year.

    Balance of Payments: The Balance of Payments (BOP) reflected a surplus, contrasting with a deficit from the same period in the previous year.

    This comprehensive report offers a detailed insight into Nepal’s economic and financial landscape during the initial two months of the fiscal year 2023/24.

  • Is there any brokerage firm that facilitates nepali investors to invest in foreign stocks and foreign investors to invest in nepal stocks?

    Is there any brokerage firm that facilitates nepali investors to invest in foreign stocks and foreign investors to invest in nepal stocks?


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    View on r/NepalStock by Himalayan_Stallone

  • Foreign Employment Reserve IPO. Guide lines are not clear

    Foreign Employment Reserve IPO. Guide lines are not clear


    Can anyone provide information about foreign employment reserve IPO? Guidelines are no where to found. I called bank and capital they can’t provide any useful information. I get it I need to open an account and get CRN number but how?? Most of the bank don’t do online verification. Do they?

    View on r/NepalStock by [deleted]

  • IPOs alloted for foreign employment

    IPOs alloted for foreign employment


    What are the procedure for converting your normal bank account to remittance account and be eligible for applying ipos allotted for foreign employment. Anyone here aware of full procedure regarding this.

    View on r/NepalStock by Guilty-who

  • Reserved Quota for Foreign Investment

    Reserved Quota for Foreign Investment


    Please describe me who can apply in the foŕeign employment reservation scrips? And How?
    Do a person on student visa apply in this ?

    View on r/NepalStock by red_ditey

  • How can i apply for foreign kota share?

    How can i apply for foreign kota share?


    I’ll be going abroad in a few months and I want to be eligible for it. How can I apply?

    View on r/NepalStock by no_seggs_september

  • Provision of Foreign Reserved IPO

    Provision of Foreign Reserved IPO


    Is there any holding period or we can sell ipo of foreign reserved ipo immediately ??

    View on r/NepalStock by _Jindabaad