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HCM City remittances increase

by VTV410 August 2016 Last updated at 10:22 AM

VTV.vn - The State Bank of Vietnam’s decision to cut interest rates on US dollars deposit to 0% last year led many to fear that remittances, particularly to Ho Chi Minh City, would decrease.

However, by the end of this July, the city had recorded a 5% increase in remittances compared to the same period last year. This offers positive signs for the city’s business community.

With the strong recovery of the local economy, representatives of State  Bank of Vietnam’s Ho Chi Minh City Branch, predicted that remittances flowing to the city for the remainder of the year will rise to around 5.7 billion US dollars.

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