Measures have been taken by the State Bank of Vietnam to reign in the rising US dollars against the VND.
Inactive cash showed signs of shifting to securities as banks continue to reduce deposit interest rates to below 8% per year, expanding the liquidity of the stock market.
VOV.VN - Vietnam exported nearly 153,000 tonnes of pepper worth more than US$483 million during the first half of the year, thereby representing a rise of nearly 24% in volume, but down 13.7% in value on-year, according to the latest data released by the General Department of Vietnam Customs.
The period of strong volatility of the US dollar has ended, and the US$/VND exchange rate in the last six months of 2023 will remain stable, experts have forecast.
VOV.VN - The trade turnover between Vietnam and the United States have significantly decreased during the first four months of the year, according to the Ministry of Industry and Trade,
VOV.VN - The Government convened the regular April meeting under the chair of Prime Minister Pham Minh Chinh on May 5 to review the socio-economic situation in April and the first four months of the year, alongside a number of other important issues.
Vietnam’s economy is well supported by its policy, but headwinds in the world’s financial market, with risks from the European and American financial systems, have caused concern.
The State Bank of Vietnam (SBV) on March 14 issued two decisions to reduce regulatory interest rates by 0.5% to 1%, which will come into force on March 15.
VNDirect Securities Corporation expects Vietnamese foreign exchange reserves to recover to 3.3 months of imports and reach US$102 billion by the end of this year from the current level of US$89 billion last year, said in its updated macro report.
Amid the US Federal Reserve (FED)’s continuous increases of interest rates to cope with inflation, the most important task for Vietnam now is to keep macro-economic stability, with monetary stability being the core, some economic experts have said.