Urging citizens not to panic, he said NRB has foreign exchange reserves to support the import of goods and services for 6-7 months. The economy has lately shown positive signs, he said.
As many people have again started leaving the country for foreign employment, Bhatta said the flow of remittance may improve soon.
A letter of credit (LC) will not be open for the import of readymade garments, textile products, thread, design vehicles, mopeds, bicycles and necessary motor equipment, machinery and spare parts, paddy, rice, gold, electrical appliances and silver, according to Nepalese media reports.
NRB will also not open LC for the import of perfumes, make-up items, hair creams and shampoos, wood, charcoal and furniture, footwear and boots, braces for teeths, weaving cloths, umbrellas, walking sticks and feathers.
Fibre2Fashion News Desk (DS)