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In celebration of International Women’s Day 2024, Trave-Yeller VII was organized by GET Nepal bringing together a diverse array of speakers, performers, and participants. Under the theme ‘Invest in women: Accelerate progress’, the event aimed to challenge gender stereotypes and celebrate the bravery and resilience of women through the transformative power of travel stories. 

The event included travel storytelling sessions from renowned speakers such as Usha Khanal, Sumitra Acharya, and Sita Subedi, each sharing their unique journeys and insights. It also highlighted the entrepreneurial spirit of women with an expo featuring stalls from 10 women entrepreneurs, providing a platform for networking and partnership opportunities. Attendees also had the opportunity to engage in documentary screenings, artistic performances, and insightful talks on sustainable travel by esteemed speakers like Juliette Hamon. 

“Trave-yeller VII underscored the importance of investing in women and accelerating progress, with certificates distributed to the Women Leadership in Tourism program, volunteers, and participants from St. Xavier’s College,” say the organizers.

The country’s foreign exchange reserves are expanding as imports continue to decline and remittance surges persist. The Current Macroeconomic Situation report of the first seven months of fiscal year 2023/24 shows Nepal’s gross foreign exchange reserves surged by 19.9 percent and reached Rs 1,844.94bn in mid-February compared to Rs 1,539.36bn in mid-July 2023. In US dollar terms, the foreign currency reserves increased by 18.6 percent to $13.89bn, up from $11.71bn in mid-July last year.

While the foreign exchange holdings of the Nepal Rastra Bank (NRB) experienced a strong growth of 20.7 percent to Rs 1,623.92bn, up from Rs 1,345.78bn in mid-July, reserves held in banks and financial institutions (excluding NRB) surged by 14.2 percent to Rs 221.02bn compared to Rs 193.59bn in mid-July.

Based on the imports recorded over the first seven months of the fiscal year 2023/24, the foreign exchange reserves can cover prospective merchandise imports for approximately 14.7 months and merchandise and services imports for about 12.3 months.

The current account is in a surplus of Rs 161.69bn in the seventh month of 2023/24. This marks a significant improvement compared to the deficit of Rs 40.16bn recorded in the same period of the previous fiscal year. In US dollar terms, the surplus amounts to $1.22bn, contrasting with a deficit of $314.6bn reported as of mid-Feb 2023.

Capital transfers decreased by 29 percent to Rs 3.8bn during the review period, while net foreign direct investment (FDI) remained positive at Rs 5.18bn. In the corresponding period of the previous fiscal year, capital transfers amounted to Rs 5.35bn, with net FDI at Rs 1.04bn.

The balance of payments remained a surplus of Rs 297.72bn over the first seven months of 2023/24, compared to Rs 128.55bn surplus in the same period of the previous fiscal year. In US dollar terms, this surplus stands at $2.24bn in the current fiscal year review period, up from $975.7m in the same period of the previous fiscal year.

Balance of payments is the difference between all money flowing into the country in a particular period of time and the outflow of money. 

Remittances inflow during the review period increased by 21.6 percent to Rs 839bn, compared to a rise of 27.1 percent in the corresponding period of the previous fiscal year. In terms of US dollars, remittance inflows increased by 19.1 percent, reaching 6.31bn.

The country’s merchandise exports saw a decline of 7.1 percent to Rs 86.83bn over the first seven months of 2023/24, compared to a 29 percent drop in the same period of the previous fiscal year. Data released by the central bank shows exports to India and other countries dropped by 11.3 percent and 2 percent, respectively, while exports to China surged by 338.8 percent. Noteworthy increases were observed in exports of zinc sheet, particle board, juice, and readymade garments, whereas exports of palm oil, soybean oil, cardamom, tea, and woolen carpet witnessed a decline.

Merchandise imports, on the other hand, decreased by 2.3 percent to Rs 897.94bn in the review period compared to a decline of 19.9 percent in the same period of the previous fiscal year. While imports from India and other countries declined by 2.8 percent and 23.8 percent, respectively, imports from China increased by 38.4 percent. Imports of products such as readymade garments, transport equipment, and electrical equipment increased during the review period, while imports of crude soybean oil, gold, and petroleum products decreased.

The country’s total trade deficit came down by 1.8 percent to Rs 811.11bn over the first seven months of the current fiscal year, compared to an 18.7 percent decrease in the same period of the previous fiscal year.

The Nepal Stock Exchange (NEPSE) gained 58. 55 points to close at 2, 111. 21 points on Tuesday.

Similarly, the sensitive index surged by 10. 60 points to close at 375. 13 points.

A total of 10,609,597-unit shares of 305 companies were traded for Rs 4. 55 billion.

Meanwhile, Janautthan Samudayic Laghubitta Bittya Sanstha Limited (JSLBB), Unnati Sahakarya Laghubitta Bittiya Sanstha Limited (USLB), Wean Nepal Laghubitta Bittiya Sanstha Limited (WNLB), Swabhimaan Laghubitta Bittiya Sanstha Limited (SMFBS) and Jalpa Samudayik Laghubitta Bittiya Sanstha Limited (JALPA) were the top gainers today, with their price surging by 10. 00 percent.

Likewise, Himalayan 80-20 (H8020) was the top loser as its price fell by 2. 57 percent.

At the end of the day, total market capitalization stood at Rs 3. 31 trillion.

The gold is being traded at Rs 126, 000 per tola in the domestic market on Tuesday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, tejabi gold is being traded at Rs 125, 400 per tola.

Meanwhile, the price of silver, however, has increased by Rs 10 and is being traded at Rs 1,485 per tola today.