As the State Bank of Vietnam has devalued the Vietnamese dong by another one percent against the greenback, there will be no more room for the SBV to maneuver its foreign exchange policy from now to the end of this year
Experts predict inward remittances will continue to increase over the period 2015-2016, but will decrease slightly from 2017.
As the supply of the greenback is still ample, local bank officials, manufacturers and traders say they are not worried about the forex rate increase
The fact that the differences in the price of gold bullion in the local and international market continued to expand, and the price of the greenback kept rising over other currencies on the international market, is the main psychological reason behind the rally of the US dollar locally
The foreign exchange rate between the US dollar and the Vietnam dong has fallen back after the information of the intervention in the forex market of the State Bank of Vietnam spread
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
The board responsible for drafting the new decrees on foreign currency management from the central bank has taken the move after receiving a lot of comments, suggestions, and even criticisms
The disbursement of foreign direct investment (FDI) and official development assistance (ODA) capitals, plus overseas remittances, is forecast to surge to $25 billion by the end of 2013, according to the national financial watchdog
It is an unexpected move as the central bank had held the rate steadily for over one month after the devaluation in late June
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