Remittances to HCM City total 6.6 billion USD last year

Illustrative photo. (Photo: baodautu.vn)

Hanoi (VNA) – Remittances to Ho Chi Minh City reached around 6.6 billion USD in 2021, up 9 percent from the previous year, according to Nguyen Hoang Minh, head of the Vietnam Banks Association’s Office in HCM City.

The money flow has not only supported the city’s economic development but also contributed to stabilising the supply of foreign currency in the city and Vietnam in general.

Data from the State Bank of Vietnam shows that remittances to Vietnam surged about 10 percent last year to total 12.5 billion USD, 70 percent of which was sent via credit institutions, 28 percent through remittance services providers and 2 percent through postal services./.

VNA