The State Bank of Vietnam (SBV) on April 23 took some moves like issuing treasury bills (T-bills), further employing T-bills as an open market operation (OMO), and stipulating liquidity and interest rates in the inter-bank market in the face of surging USD/VND exchange rates.

VOV.VN - The State Bank of Vietnam (SBV) has begun selling US dollars to intervene in the currency market for banks that have a negative foreign currency balance and those that want to buy, said Pham Chi Quang, an official of the central bank, at a press briefing held on April 19.

VOV.VN - A senior official of the State Bank of Vietnam said the bank has closely monitored and kept the VND/USD exchange rate in check amid a recent significant increase in the rate.

VOV.VN - Vietnam will enjoy favourable conditions to fuel its economic recovery this year despite the global moderate growth forecast, said Paulo Medas, head of the International Monetary Fund (IMF) team to Vietnam.

Vietnam still has effective tools to proactively control the VND/USD exchange rate in 2024 even if the US Federal Reserve (Fed) has to maintain its interest rates at the current high level for an extended time due to the conflict in the Red Sea and other new uncertainties, experts said.

Vietnam Airlines group for the fourth quarter of 2023 achieved improved indicators and recorded a profit from transportation activities, according to its financial report released on January 31.

The USD/VND exchange rate has seen notable developments in the first month of 2024 when it increased significantly in both official and free markets.

Experts have predicted that gold prices, which reached a record high last week, may continue to rise in the short term, but the upward trend would be hard to sustain in the medium and long term.

The State Bank of Vietnam (SBV) will continue to issue new bills to withdraw cash from the banking system as liquidity is abundant and interbank interest rates remain low, analysts forecast.

As the governance of the monetary policy has to concurrently guarantee multiple targets, including reducing interest rates, expanding credit, stabilising foreign exchange rates, and ensuring credit institutions’ safety, thorough consideration is needed before any steps are taken, Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu.