The number of Nepali people leaving the country for employment purpose grew by around 4 percent in 2006, local media website eKantipur.com reported Thursday.

Statistics from the Department of Labor and Employment Promotion showed that around 174,000 workers left for 18 labor destinations, including Malaysia, Gulf countries, Israel, South Korea and the United States, during the year.

Meanwhile, reports from the Nepal Rastra Bank, the central bank, said that Nepalis employed abroad transferred an estimated amount of 92 billion rupees (about 1.3 billion U.S. dollars), in remittances in the first 11 months of 2006. At this rate, the amount transferred by workers is expected to cross 100 billion rupees (about 1.4 billion rupees) in 2006.

Due to this contribution, the gross foreign currency holding of the banking sector soared to 164.78 billion rupees (about 2.3 billion U.S. dollars) by mid-October 2006, relaxing foreign exchange constraints and reducing vulnerability to external shocks.

Source: Xinhua