गृहपृष्ठ ∕ Business ∕ Monetary Policy for FY 2023-24 sets seven targets Business Monetary Policy for FY 2023-24 sets seven targets KathmanduPati July 23, 2023 File Photo KATHMANDU – The Monetary Policy for the current fiscal year 2023-34 unveiled by the Nepal Rastra Bank today has set seven various targets. The structure and targets of the new Monetary Policy seek to maintain the foreign exchange reserve at a level sufficient to cover the anticipated imports of goods and services at least for seven months. The Monetary Policy has determined its policy rates being based on the capacity of the foreign exchange reserves to cover imports and the target annual inflation rate. Additionally, the exchange rate of the Nepalese currency against the Indian currency has been maintained as it is. It targets to keep interbank interest rates within the interest corridor by operating and promoting open market operations based on the position of the operating target. Similarly, it has set a target of limiting the inflation at 6.5 percent by preventing a pressure on prices by the monetary expansion. The Central Bank has accorded priority to shift the fiscal resources to the productive sector in line with the target of achieving six percent economic growth set by the budget for the current fiscal year. The broad money supply is expected to increase by 12.5 percent and credit to the private sector from banks and financial institutions is likely to go up by 11.5 percent in the current fiscal year. Write your comments RELATED NEWS Nepal mandates National ID for digital wallet verification International rights bodies warn Nepal against political interference in Supreme… Nepal deports 47 foreign women over alleged illegal activities Cockroach Janta Party ends nationwide protests Nepal’s communist parties seal provincial power-sharing agreement Celebrations at Delhi protest site after minister resigns Top Headlines Monsoon is predictable and Nepal’s disaster response should be too1 Before the Ballots: How Oli Lost the Political Narrative2 Balen’s Silence Has Invited Curiosity, Confusion, and Concerns3 Nepal “a Buffer State”: Rethinking foreign policy in relative terms4 Nepal’s Political Renaissance: The rise of the RSP, the re-ordering of the old political order and the political path forward5 Promotion Linked to Future Military Leadership: Major General Magar Could Become Army Chief6 Jagdamba Group Chairman Shankar Agrawal Arrested7 Nepali Congress provides financial assistance for Samba’s treatment8 TRENDING Once on the Margins, Women Diplomats Are Now Making Their Mark in Nepal’s Foreign Service Sector Pathao, Tootle resume ride sharing services after authorities relax lockdown What Makes Prithivi Narayan Shah a Philosopher and a Truly Democratic King? The Role of the Nepalese Army in Strategic Road Projects A phone call that paved the way for RAW Chief’s visit to Nepal What role has the Nepal Army been playing in controlling the coronavirus? National Poet Madhav Prasad Ghimire no more UPAYA CITY CARGO LAUNCHES Version 3.0
