Foreign capital inflows surge rapidly
Foreign capital inflows have expanded rapidly and made significant contribution to balancing the demand and supply of foreign currencies, according to the latest periodical report of the State Bank of Vietnam (SBV).
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The inflows of overseas remittance and foreign investment have surged robustly, said the SBV Foreign Currency Management Department.
The foreign currency market got better and commercial banks were able to purchase more foreign currency for sale, the report mentioned.
Meanwhile, SBV Governor Nguyen Van Giau earlier predicted that besides the inbound flow of overseas remittance, the wave of foreign indirect investment would continue to increase at the end of 2010 and early 2011.
Together with the growth of foreign capital inflows, the Government-backed policy on monetary management has also helped to consolidate people’s confidence in the market.
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