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remittances as a source of foreign currency, have significant positive effects in improving the international balance of payments, stabilize the exchange rate, is an important source of foreign currency supply for demand import sewn goods. However beside the flow of remittances into formal way LEGIT, then a large Department remittances flowing into VIETNAM following the path unofficially, known as "remittances smuggled". Remittances smuggled by VN mostly in cash in USD, because Vietnamese overseas collectors and directly runs on water, and hand to the recipient. Forex management mechanism of PH not ban put remittances on the PH of any kind, as long as the entry is declared with customs as required. In fact the recipient "remittances smuggled" very rarely send, sell foreign currency for the Bank that primarily hold foreign currencies in cash or sold on the underground market. According to estimates, the source of "remittances smuggled" every year no less than $ 1 billion, creating a source of fairly large connector on the drift USD marketeer, is outside the control of the State. Besides, with respect to sources of official remittances, foreign exchange management allow payments in foreign currency cash for the beneficiary in the country as well as foreign currency amount of shakeup floating on the underground market.
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