The overseas remittances mostly came from the US (60 percent) and Europe (20 percent). Overseas remittances to Vietnam go through four channels – commercial banks, economic institutions, customs or post. Overseas remittances to Vietnam have increased since 2010, reaching a peak of $13.2 billion in 2015. “The overseas remittances to Vietnam are not affected by the interest rate gap between the dollar deposit interest rates in Vietnam and the rest the world, or the SBV’s dollar interest rate policy,” Canh said. These will affect remittance flow, since the US is the biggest source of overseas remittances to Vietnam, accounting for 60 percent.

Source: VietNamNet News February 19, 2018 02:26 UTC