Photo for illustration. (Source: tapchitaichinh.vn)

In August alone, the remittances to the southern city reached about USD500 million. According to the organ, the remittances mainly flow from the US (accounting for 60%) and Europe (about 20%).

Because the exchange rate was stable, most remittances were transferred from foreign currencies to Vietnamese dong by receivers to hold.

Majority of the remittances were used for production, business and investment, but not invested in real estate or stock as before.

With the positive growth, the SBV expected remittances to the hub will reach about USD5.7-5.8 billion in 2017, a 5.6% rise over a year earlier./.

BTA