Remittances to HCM City hit US$3.3 billion
VOV.VN - Foreign remittances to Ho Chi Minh City reached US$3.375 billion in nine months up to October, up 12.5% against August and 6% over the same period last year, according to the State Bank of Vietnam’s HCM City branch.
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.