Tag: US dollar
Central bank works to raise interbank rates and ease forex market
The State Bank of Vietnam (SBV) has shortened terms and kept the interest rate of its bills unchanged to increase the attractiveness of the bill channel, which will help raise the interbank interest rates and reduce pressure on the USD/VND exchange rate.
Exchange rates remain within controlled range: ADB expert
Current exchange rate fluctuations still fall within the controlled range of the State Bank of Vietnam, without necessitating usage of foreign exchange reserves for intervention, Nguyen Ba Hung, Chief Economist of the Asian Development Bank (ADB) in Vietnam, has said.
Six-month core inflation rises 4.74%: GSO
VOV.VN - The General Statistics Office of Vietnam (GSO) announced on May 29 that the first half of 2023 saw the consumer price index (CPI) rise by 3.29% and core inflation grow by 4.74% from the same period last year.
Vietnam faces huge inflationary pressure in 2023: expert
The demand-pull and cost-push inflation will put pressure on the country's efforts to control inflation amid surging demand and strengthening of the US dollar which yields increased import prices.
Assets of Vietnam’s billionaires drop as stock prices fall
Vietnamese US dollar billionaires saw their value fall sharply in 2022 because of decreased stock prices. Vingroup’s Pham Nhat Vuong lost US$2.1 billion, while Bui Thanh Nhon was excluded from Forbes’ list of billionaires.
Garment makers likely to hit export target amid challenges
VOV.VN - Despite suffering a fall in export orders coupled with the appreciation of the US dollar, the local garment and textile industry is anticpated to meet an export target of between US$43 - 44 billion this year, according to industry insiders.
Exchange rate falls as SBV withdraws cash through foreign currency selling channel
VOV.VN - The daily exchange rate for the US dollar against the local currency (VND) has dropped after the State Bank of Vietnam (SBV) moved to withdraw cash through open market operation (OMO) and foreign currency selling channels for the seventh consecutive session.
Importers, exporters impacted by exchange rate volatility
The recent fluctuations in the US dollar and Japanese yen have both positive and negative impacts on Vietnamese traders, according to experts of the Ministry of Industry and Trade (MoIT).
Central bank sells greenback to stabilise forex market
The State Bank of Vietnam (SBV) has so far this year sold about US$12-13 billion to stabilise the domestic forex market, according to Viet Dragon Securities Corporation (VDSC).
ACV asks to borrow US dollars for Long Thanh airport project
The State-run Airports Corporation of Vietnam (ACV) has said it wants to borrow US dollars from local banks for the country's largest airport project, Long Thanh International Airport in southern Dong Nai province.
