Increase in expat money to Vietnam in 2012

The State Bank of Vietnam has announced that the amount of money sent from people living and working abroad was US$4.1 billion in 2012, a year-on-year increase of 15 percent.

Most of the money sent is from people living and working in America and Europe. The State Bank branch in Ho Chi Minh City said that 34 percent of the amount was sold to the bank this year as compared to 15 percent last year.

The fact that people sell foreign currency to the bank shows their confidence in Vietnamese dong and stable exchange rate throughout the year.

In addition, around 23 percent of the foreign currency poured into real estate this year while it was 52 percent last year. Most foreign currency poured into production, helping stabilize the exchange rate for the whole year.

By V.H.A - Translated by Uyen Phuong

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