Exchange rates will remain unchanged to year’s end
(VOV) -Exchange rates will see no further adjustments to year’s end, announced on December 6 by the State Bank of Vietnam (SBV).
The central bank based its decision on positive trends in Vietnam’s macroeconomic situation, monetary market, and inter-banking market.
According to the SBV, exchange rates have stayed steady at around VND21,100/US$ in recent months, largely thanks to the central bank’s increasing foreign currency reserves. On December 6, the rate circled VND21,150/US$.
Vietnam’s trade deficit has remained low in 2013 (US$96 million), equivalent to 0.08% of the country’s total export revenue. Vietnam’s November export surplus approached US$50 million.
Experts forecast Vietnam’s 2013 international payment sheet will present a surplus of US$2.5–3 billion. The liquidity of Vietnamese credit organisations has improved remarkably, and supply and demand forces appear relatively balanced.