Dinar Daily
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Latest topics
» Deadly stampede could affect Iraq’s World Cup hopes 1/19/23
Vietnam inward remittances headed for new high I_icon_minitimeYesterday at 6:02 am by Ditartyn

» Dave Schmidt - Zim Notes for Purchase (NOT PHYSICAL NOTES)
Vietnam inward remittances headed for new high I_icon_minitimeSat Mar 23, 2024 9:25 am by swizzlestick

» ZIGPLACE
Vietnam inward remittances headed for new high I_icon_minitimeWed Mar 20, 2024 6:29 am by Zig

» CBD Vape Cartridges
Vietnam inward remittances headed for new high I_icon_minitimeThu Mar 07, 2024 2:10 pm by Arendac

» Classic Tony is back
Vietnam inward remittances headed for new high I_icon_minitimeTue Mar 05, 2024 2:53 pm by Mission1st

» THE MUSINGS OF A MADMAN
Vietnam inward remittances headed for new high I_icon_minitimeMon Mar 04, 2024 11:40 am by Arendac

»  Minister of Transport: We do not have authority over any airport in Iraq
Vietnam inward remittances headed for new high I_icon_minitimeMon Mar 04, 2024 11:40 am by Verina

» Did Okie Die?
Vietnam inward remittances headed for new high I_icon_minitimeMon Mar 04, 2024 11:34 am by Arendac

» Hello all, I’m new
Vietnam inward remittances headed for new high I_icon_minitimeWed Jan 31, 2024 8:46 pm by Jonny_5

» The Renfrows: Prophets for Profits, Happy Anniversary!
Vietnam inward remittances headed for new high I_icon_minitimeWed Jan 31, 2024 6:46 pm by Mission1st

» What Happens when Cancer is treated with Cannabis? VIDEO
Vietnam inward remittances headed for new high I_icon_minitimeWed Jan 31, 2024 8:58 am by MadisonParrish

» An Awesome talk between Tucker and Russell Brand
Vietnam inward remittances headed for new high I_icon_minitimeWed Jan 31, 2024 12:16 am by kenlej

» Trafficking in children
Vietnam inward remittances headed for new high I_icon_minitimeMon Jan 29, 2024 7:43 pm by kenlej

» The second American Revolution has begun, God Bless Texas
Vietnam inward remittances headed for new high I_icon_minitimeMon Jan 29, 2024 6:13 pm by kenlej

» The Global Currency Reset Evolution Event Will Begin With Gold, Zimbabwe ZWR Old Bank Notes
Vietnam inward remittances headed for new high I_icon_minitimeSun Jan 28, 2024 3:28 pm by Mission1st

» Tucker talking Canada
Vietnam inward remittances headed for new high I_icon_minitimeWed Jan 24, 2024 6:50 pm by kenlej

» Almost to the end The goodguys are winning
Vietnam inward remittances headed for new high I_icon_minitimeMon Jan 22, 2024 9:03 pm by kenlej

» Dinar Daily Facebook Page
Vietnam inward remittances headed for new high I_icon_minitimeMon Jan 22, 2024 3:34 pm by Ponee

» The Fundamentals of Finance and Pimpy Live
Vietnam inward remittances headed for new high I_icon_minitimeThu Jan 18, 2024 7:17 am by Dinarhater

» Why Won't the Iraqi Dinar Scam Die?
Vietnam inward remittances headed for new high I_icon_minitimeWed Jan 17, 2024 5:19 pm by RamblerNash

Vietnam inward remittances headed for new high

Go down

Vietnam inward remittances headed for new high Empty Vietnam inward remittances headed for new high

Post by lexie Wed Nov 02, 2011 9:51 am

November 2, 2011

Vietnam inward remittances headed for new high

Inward remittances this year may be worth a record US$8.5 billion, the State Bank of Vietnam has said.


Last year remittances, made mostly in dollars, by overseas Vietnamese and guest workers were worth more than $8 billion.


The central bank said the amount had topped $2.5 billion in the first quarter of this year, $2 billion in the second, and $2.5 billion again in the third.


As a ratio of GDP, remittances were worth just 4.2 percent in 1999. By last year it had surged to 7.7 percent.


The central bank said while other components making up the balance of payments -- like ODA, FDI, and FII -- had declined remittances continued to rise.


The World Bank said last year Vietnam was the 16th largest recipient of remittances in the world.


In Southeast Asian region, it was only behind the Philippines, which received $21.3 billion.


In July the former governor of the State Bank of Vietnam, Nguyen Van Giau, had said Vietnam had 55,000 guest workers abroad earning $1.8 billion to $2 billion a year and three million ethnic Vietnamese living in other countries.


They would remit at least $6.5 billion in the year’s second half, he had said.


An executive of a bank that handles around 20 percent of the total inward remittances said part of the money was remitted to benefit from higher deposit rates, newswire Saigon Times Online reported.


“The interest rate on dollars in other countries is only 0.5 percent while in Vietnam it is 2 percent.”


But he expressed concern that in the last few years a large amount was not deposited or sold to banks but sold in the black market due to the higher exchange rates.


“This puts pressure on the exchange rate and prevents control over the black market,” he warned.



http://www.vietfinancenews.com/2011/11/vietnam-inward-remittances-headed-for.html#more

*****************
"WHEN THE POWER OF LOVE OVERCOMES THE LOVE OF POWER, THE WORLD WILL KNOW PEACE"
lexie
lexie
Elite Member
Elite Member

Posts : 1812
Join date : 2011-06-24

Back to top Go down

Back to top


 
Permissions in this forum:
You cannot reply to topics in this forum