Remittances to HCM City surpasses 9.5 billion USD in 2024
Remittances to Ho Chi Minh City in 2024 reached over 9.5 billion USD, up 0.9% year-on-year, the State Bank of Vietnam (SBV)'s branch in the city announced on January 16.
Remittances to Ho Chi Minh City in 2024 top 9.5 billion USD, up 0.9% year-on-year, according to the State Bank of Vietnam's branch in the city (Photo: VNA)
HCM City (VNA)▨ - Remittances to Ho Chi Minh City in 2024 reached over 9.5 billion USD, up 0.9% year-on-year, the State Bank of Vietnam (SBV)'s branch in the city announced on January 16.
Statistics showed that remittances from Asia and America accounted for the highest proportion, with 82.2%.
Compared to 2023, the flow of money from Asia rose by 2.5%, from America by 7.4%, and from Oceania by 8.7%. On the other hand, remittances from Europe and Africa decreased by 23% and 33%, respectively.
Nguyen Duc Lenh, Deputy Director of the SBV’s HCM City Branch, said that the remittance flow to the city, although its growth rate has not been as high as in the past two years, continued to exceed the 9 billion USD mark.
Along with other foreign currency sources, it has contributed to boosting the city’s socio-economic development, as a stable foreign currency supply that bolsters foreign exchange monetary policy, with the goal of stabilising the macro-economy and promoting economic growth./.
Remittances sent by overseas Vietnamese to Ho Chi Minh City are expected to surge about 10% in 2024 from a record high of 9.46 billion USD in 2023, according to Nguyen Duc Lenh, Deputy Director of the State Bank of Vietnam (SBV)’s Ho Chi Minh City Branch.
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