The inflows of overseas remittances and foreign indirect investment (FII) into Vietnam have increased in the first half of this year, raising the supplies of foreign currency in the market.

In the first six months, the total overseas remittances to the country are estimated at US$3.6 billion. According to statistics from the State Bank of Vietnam, the inflow of overseas remittances to Vietnam in the first quarter of the year was estimated at US$2.05 billion, up 30.5 percent compared to the same period last year.

Vietnam’s stock market has also showed signs of recovery, attracting almost US$350 million in FII.

The SBV said that the increase is attributed to the recovery and green shoots of the national economy.

The SBV added that the remarkable increase in overseas remittances and FII have helped to stabilize the foreign exchange market, keeping the US$/VND exchange rate at commercial banks below the ceiling rate since April 2010.

Source: VOV