The State Bank of Vietnam (SBV)'s exchange rate management policy has been appropriate and effective, creating benefits for the economy and confidence for the market.
With a positive macroeconomic background at the moment, interest rates will basically stay steady until the end of the year due to excessive liquidity and proper credit growth, according to an official from the State Bank of Vietnam (SBV).
The State Bank of Vietnam (SBV) said the official interest rates will be adjusted down as from September 16.
Gold prices on global markets have made strong gains in the past two months, but investors with short-term appetite seem uninterested in gold.
The US Federal Reserve (Fed)’s latest rate cut will benefit commodity and equity markets in the short term, according to specialist Nguyen Tri Hieu.
Commercial banks have consecutively lowered the value of the US dollar against the Vietnamese dong during the final days of 2018, helping the USD/VND exchange rate close the year under control.
The Vietnamese monetary market will not suffer from any significant impact from the US Federal Reserve (FED)’s fourth interest rate hike in 2018 as the move was already expected, experts have said.
VOV.VN - The Vietnam Institute for Economic and Policy Research (VEPR) and the Konrad Adenauer Stiftung (KAS) co-hosted a workshop in Hanoi on October 10 to unveil the 2018 Quarterly Report (III) – Independent Assessment of Vietnam’s Macroeconomic Policies in the presence of many senior economic experts.
Vietnam’s socio-economic performance in July continued to see positive developments with equal growth in all the three sectors, namely macro economy, industrial production and services.
VOV.VN - The Vietnamese Government wants to hear opinions on exchange and interest rate policies in order to facilitate its management in the coming time, thereby ensuring growth targets, inflation control,and macro-economic stability.
Foreign exchange rates are likely to rise strongly due to concerns that the US-China trade war may be escalating, said Director of the Vietnam Institute for Economic and Policy Research (VEPR) Nguyen Duc Thanh.
The State Bank of Vietnam (SBV)’s recent response to the continuous rise of USD prices has demonstrated its readiness to make an intervention in order to stabilise the foreign exchange market.
The State Bank of Vietnam (SBV)’s net purchase of foreign currencies exceeded US$11 billion in the first half of 2018, increasing the nation’s foreign exchange reserves to approximately US$63.5 billion.
The US dollar has appreciated significantly against the Vietnamese dong in the past few days in the wake of the US Federal Reserves (Fed)’s interest rate hike last week, but local officials and experts are not too worried, believing these hikes won’t affect Vietnam’s economy in any major way.
Foreign investors have been net sellers over a couple of weeks, but this does not mean they are leaving Vietnam, experts say.
Commercial banks are optimistic about the foreign exchange market in 2018, noting that the market would be stable with the Vietnamese dong devaluing slightly by some 0.5-1 percentage points to VND22,710 to VND22,950.
After the Federal Reserve (Fed) raised the USD interest rate, the domestic exchange rate did not significantly fluctuate. However, when talking with VIR reporter, economist Dr Can Van Luc said that there may be some pressure on the USD exchange rate at the end of 2017.
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.
The domestic gold market did not show much fluctuations on June 15 after the Fed raised its prime rates, with gold prices moving around the mark VND36 million VND (US$1,586.5) a tael (37.5 grammes).
Vietnam’s inflation this year is forecast to reach 2.6 percent barring fluctuations of prices on world markets and adjustment in the cost of public services, the National Financial Supervisory Commission (NFSC) reported on June 12.