NEPAL’S RMG EXPORTS RISE BECAUSE OF WEAKER CURRENCY
October 2nd, 2013
NEPAL’S ready-made garment exports shot up by 17.8% during the first two months of the country’s current fiscal year starting July 16 due to currency depreciation, the Garment Association of Nepal (GAN) has claimed.The increase follows a 10-12% fall in exports in the last fiscal year (2012-3), GAN general secretary Ashok Kumar Agrawal told just-style.He said the hike in exports would be “temporary” because it was due to a weaker local currency. On July 16, 2013, a US dollar was worth Nepalese Rupees NPR95.01, rising to NPR101.47 by September 15, 2013. ...
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