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Surprise rebound in remittances to Ho Chi Minh City

Remittances sent to Ho Chi Minh City in the third quarter reached nearly $2.84 billion, up 39.5% from the previous quarter and 3.6% year on year, signaling a recovery after two weak quarters. However, the nine-month total of nearly $6.87 billion still fell 13.8%, though the decline narrowed from 22.8% in the first half. Asia remained the largest source at $1.677 billion, or 59.1%, with the rebound driven mainly by the strengthening South Korean won and seasonal demand. The report said rising inflation and living costs in major economies, along with high USD interest rates that lead some overseas Vietnamese to keep savings abroad, weighed on transfers. If fourth-quarter inflows reach $2.6–2.9 billion, full-year remittances could be $9.5–9.8 billion, down 5.1–8% from $10.3 billion in 2025.

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Original headline: Bất ngờ kiều hối chuyển về TPHCM

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