VOV.VN - The State Bank of Vietnam has implemented a road map to guide the flows of foreign currency credit into four directions in a bid to deal with rising exchange rates.
Although full-year inflation will probably be contained at less than 4%, the average consumer price index (CPI) in the first nine months of 2018 was already 3.57%, putting the efforts to curb inflation in the remainder of the year under even greater pressure.
The VND/USD exchange rates saw little changes this morning although the US Federal Reserve (Fed) raised interest rates on June 14 on the confidence in a growing economy and strengthening job market in the world’s biggest economy.
Vietnam will achieve its 2017 goal of 6.7% growth in gross domestic product (GDP), higher than 6.21% in 2016, due to the efficiency of its reforms, say experts.
Domestic firms have taken the first measures in an effort to adapt to the State Bank of Vietnam (SBV)’s new regulation on tightening foreign currency credit.
Viettel Group’s total overseas investment increased 9% to nearly US$1.5 billion in 2015.
The margin limit for exchange rates remains at +/-3, Deputy Governor of the State Bank of Vietnam Nguyen Thi Hong told a press conference in Hanoi on January 4.
Although Vietnam embarks upon its socio-economic development for the 2016-2020 period with a string of bright achievements under its belt, enterprises are still somewhat hampered by certain hurdles that must be resolved, says Professor Nguyen Mai, former vice chairman of the Ministry of Planning and Investment.
The US dollar interest rate cut last month will not cause economic losses for organisations or individuals, said the State Bank of Vietnam (SBV) on October 12, adding that it is more beneficial to shift to VND as the difference between the interest rates on USD and VND deposits is now above 5%.
There is an upward trend in bank deposit interest rates, and analysts have urged the Government to act to keep the rates low, warning there could otherwise be adverse consequences.
(VOV) -Vietnam’s macro-economy has been kept stable and recovery remained on track during the first eight months of this year amid complicated global economic fluctuations, said the Ministry of Planning and Investment (MoPI).
The International Monetary Fund's member nations on April 18 warned of risks to the global economy from exchange rate shifts and geopolitical tensions as they took note of "moderate" global growth and "uneven prospects."
(VOV) - Commercial banks are expecting a sharp increase in overseas remittances as 2013 draws to a close, estimating a yearly total approaching US$11 billion.
(VOV) -Exchange rates will see no further adjustments to year’s end, announced on December 6 by the State Bank of Vietnam (SBV).
The eighth conference of the Communist Party of Vietnam’s Central Committee wrapped up in Hanoi on October 9.
(VOV) - For the first time in several decades, the State Bank of Vietnam’s exchange rate management has successfully prevented what it terms the ‘dollarisation’ of the national economy.
(VOV) - State Bank of Vietnam (SBV) Governor Nguyen Van Binh has said exchange rates in 2013 will be adjusted in accordance with market practices.
Vietnam strives to cut public debt to less than 65 percent of its gross domestic product by 2020 and 60 percent by 2030.
The importance of keeping foreign exchange rates under control to stabilise domestic gold prices in line with the world market has never been more pertinent.
Group of 20 finance leaders will pledge on October 23 to commit themselves to pursue market-determined exchange rates and refrain from "competitive devaluation" of their currencies.