Deputy Prime Minister Ho Duc Phoc on August 1 emphasised the importance of effectively managing monetary policy, maintaining macroeconomic stability, curbing inflation, stabilising the exchange rate, and promoting economic growth.

The reciprocal tariff rate announced by the US for Vietnam and other countries on August 1 will be a major factor affecting the USD/VND exchange rate in the short term, but the rate will likely cool down by the end of this year, experts forecast.

Despite the average inflation rate for 2025 being forecasted at around 3.4%, it is crucial to closely monitor inflationary pressures stemming from exchange rates and credit growth to draw up effective inflation control policies, said Nguyen Duc Do, deputy director of the Institute of Economics and Finance.

The increase in the USD/VND exchange rate in Vietnam is in contrast to the continuous cooling of the greenback in the international market due to a surge in domestic dollar demands for foreign debt repayment.

Economists underlined the need for Vietnamese Government and businesses to apply measures to adapt to the new tariff policy of the US to maintain growth during a meeting held by the Ho Chi Minh City Department of Industry and Trade on April 8.

After many consecutive sessions of net withdrawal, the State Bank of Vietnam (SBV) last week net injected more than VND5.09 trillion (US$199.7 million) through the open market operation (OMO) and bill channels to support liquidity in the banking system.

The USD/VND exchange rate remains under pressure as ongoing trade tensions push the USD higher.

The State Bank of Vietnam (SBV) continued its net liquidity injection in the first two trading sessions of the Year of the Snake on February 3 and 4, pumping over VND35 trillion (US$1.4 billion) into the market.

Ho Chi Minh City received nearly US$493 million in remittances in the first 20 days of this year, according to Nguyen Duc Lenh, Deputy Director of the State Bank of Vietnam's HCM City branch.

Vietnam’s inflation in 2025 is projected to remain within a manageable range of 3% to 4.5%, in line with the National Assembly’s goal to keep it around 4.5%, matching expert forecasts, heard a seminar held in Hanoi on January 9.