Oversea remittance reaches US$2.75 billion in HCMC

About US$2.75 billion was remitted to Ho Chi Minh City via the banking system in the first eight months this year, up 6.2 percent over the same period last year, said the State Bank of Vietnam.

The oversea remittance to the city is expected to reach US$4.8-5 billion this year.

According to experts, the State Bank’s 1 percent increase of the USD to VND exchange rate in mid-June has attracted the remittance.

Besides, the interest rate in USD in Vietnam is stable and higher than that in several countries contributing in higher oversea remittance in the eight months.

People are permitted to use foreign currency as a present in Vietnam.

By T.Tuyet – Translated by Hai Mien

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