In this development trend, the branch forecast that remittances to the city may hit US$5.7-5.8 billion this year.
In the first eight months of this year, overseas Vietnamese around the world sent to their relatives in the city around US$3 billion, up 5% over the corresponding period last year.
Increasing foreign remittances is a factor that keeps the exchange rate stable in recent times. At most commercial banks, the daily exchange rate for VND/US$ has been at VND22,695 (buying rate) and VND22,765 per US (selling rate) for several months.
Thanks to a stable exchange rate, recipients of remittances prefer depositing them at banks in Vietnam Dong or investing in production.