We study the initial value problem for the integrable nonlocal nonlinear Schr"odinger (NNLS) equation with decaying (as ) boundary conditions. The main aim is to describe the long-time behavior of the solution of this problem. To do this, we adapt the nonlinear steepest-decent method \cite{DZ} to the study of the Riemann-Hilbert problem associated with the NNLS equation. Our main result is that, in contrast to the local NLS equation, where the main asymptotic term (in the solitonless case) decays to as along any ray , the power decay rate in the case of the NNLS depends, in general, on , and can be expressed in terms of the spectral functions associated with the initial data.

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