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Thursday, June 20, 2024

Remittances to HCMC in Q1 put at US$2.86 billion

The Saigon Times

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HCMC – Incoming remittances to HCMC amounted to over US$2.86 billion in the first quarter of 2024.

According to the State Bank of Vietnam’s HCMC branch, the amount of foreign currency sent to the city in January-March rose by 35.4% year-on-year, the highest same-period growth rate in three years.

Remittances from the Asian region made up nearly 60% of the total, and soared by 86.1% year-on-year. Remittances from Europe and the Oceania region to the city in the first quarter decreased compared to the last quarter of 2023.

Nguyen Duc Lanh, deputy director of the SBV’s HCMC branch, said that the first-quarter remittances to the city had positive impacts on socio-economic development amidst ongoing global uncertainties. They contributed greatly to monetary policy management.

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