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HCM City receives 6.8 billion USD of remittances so far

The amount of remittances flowing to Ho Chi Minh City has continued to increase despite complicated geopolitical changes in the world, reaching about 6.8 billion USD so far, according to Nguyen Duc Lenh, Vice Director of the Ho Chi Minh branch of the State Bank of Vietnam (SBV).
HCM City receives 6.8 billion USD of remittances so far ảnh 1Illustrative image (Source: VNA)
HCM City (VNA) – The amount of remittancesflowing to Ho Chi Minh City has continued to increase despite complicated geopoliticalchanges in the world, reaching about 6.8 billion USD so far, according toNguyen Duc Lenh, Vice Director of the Ho Chi Minh branch of the State Bank ofVietnam (SBV).

Lenh commented that although the amount is lower than thatof last year, it is still a good result.

The figure is expected to surge in the rest of the year andon the thresholds of the Lunar New Year (Tet) festival, he held, adding thatthis is an important resource supporting the socio-economic development of thecity and the stability of the foreign currency supply in the city andthe country.

He noted that over the years, HCM City has been a leading localityin remittance inflows, with about 6.5-6.6 billion USD in 2021, up 9% year onyear despite the COVID-19 pandemic. In the year, the whole country received about12.5 billion USD.

To prepare for the peak season of receiving remittances at year-end, many local banks have launched various promotion programmes toattract more money./.
VNA
#Ho Chi Minh City #remittances #Lunar New Year (Tet) #foreign currency #Vietnam #Vietnam news #Vietnam News Agency
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