Hanoi (VNA) - Overseas remittances to Ho Chi Minh City rose 10percent year-on-year to 1.45 billion USD in the first quarter of 2021,according to the municipal Committee for Overseas Vietnamese Affairs.
The city received 6.1 billion USD in remittances last year, up 15percent against 2019. This not only provided funding for local production andbusiness but also added to the city’s foreign reserves.
There are currently some 2 million residents in HCM City livingoverseas.
The exchange rate between the VND and the US dollar has been stable inrecent times, so recipients tend to sell them to credit institutions.
Several banks use remittance payment technology and offer services tochange foreign currencies into VND for savings at a high interest rate.
Over recent years, remittances have come not only in the form of savingsbut also in securities, real estate, share purchases, or businessestablishment.
Banks have also enhanced the use of technology and offered promotions toattract more customers. For example, Sacombank has cooperated with partners inthe US, Australia, Europe, Japan, and Taiwan (China), and adopted APItechnology allowing quick payments around the clock. Recipients can receive theirremittances in no more than a minute./.
The city received 6.1 billion USD in remittances last year, up 15percent against 2019. This not only provided funding for local production andbusiness but also added to the city’s foreign reserves.
There are currently some 2 million residents in HCM City livingoverseas.
The exchange rate between the VND and the US dollar has been stable inrecent times, so recipients tend to sell them to credit institutions.
Several banks use remittance payment technology and offer services tochange foreign currencies into VND for savings at a high interest rate.
Over recent years, remittances have come not only in the form of savingsbut also in securities, real estate, share purchases, or businessestablishment.
Banks have also enhanced the use of technology and offered promotions toattract more customers. For example, Sacombank has cooperated with partners inthe US, Australia, Europe, Japan, and Taiwan (China), and adopted APItechnology allowing quick payments around the clock. Recipients can receive theirremittances in no more than a minute./.
VNA
