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13th September 2010. Even though the number of workers leaving for overseas job increased by more than 35 percent, remittances inflow grew by just 10.5 percent and stood at Rs 231.71 billion in 2009/10, according to the Nepal Rastra Bank. Nepal had recorded a strong 47 percent growth in remittance inflow in the previous fiscal year. As remittance drives consumption and serves as the mainstay of the Nepali economy, slowdown in its receipt is feared to adversely affect the market and economy as whole.
The Central Bank officials attributed the slowed remittance inflow to a new trend, whereby workers are sending less money back home than the past. They said this trend has emerged particularly in the aftermath of bad experiences that the workers have had in the recent global economic slowdown.