The State Bank of Vietnam (SBV) has said it will keep the exchange rate between the U.S. dollar and the Vietnamese dong changing within two percent next year to help reduce dollarization and stabilize the local currency’s value
The State Bank of Vietnam earlier this month bought a huge volume of U.S. dollars in an effort to prevent the greenback from devaluing against the local currency, the Vietnam dong, as it tried to keep its word on stabilizing the dong value to support local exporters
Truong Van Phuoc, deputy chairman of the National Financial Supervisory Commission, said that hoarding the U.S. dollar will not be a trend as the central bank has devalued the dong by one percent
The recent devaluation of the Vietnam dong is a proactive move of the State Bank of Vietnam to support exports in the last six months of 2014, thereby supporting economic growth
As of October 31, total outstanding loans increased by 7.18 percent, while total money supply rose 11.6 percent against the end of last year, said SBV Governor Nguyen Van Binh in a recent report to the ongoing National Assembly meeting in Hanoi
When shopping in local duty-free shops starting September 15, 2013, shoppers will not be limited in the use of three currencies, the Vietnam dong, the US dollar and the euro, as previously
The latest pressure on the foreign exchange rate between the Vietnam dong and the US dollar days is largely dominated by psychological factors, said the central bank’s deputy governor, Le Minh Hung