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Vietnamese currency under bigger pressure in 2020

Vietnamese currency under bigger pressure in 2020

After being relatively stable last year, the foreign exchange rate of the Vietnamese dong against the US dollar is forecast to be under greater pressure in 2020 due to both internal and external headwinds.

SBV responds to US’s latest forex exchange report

SBV responds to US’s latest forex exchange report

The State Bank of Vietnam (SBV) said it will continue coordinating with concerned Vietnamese ministries and agencies to communicate with the US regarding the US Department of Treasury’s latest report on macroeconomic and foreign exchange policies of major trading partners of the US.

Vietnamese central bank invited to become BIS member

Vietnamese central bank invited to become BIS member

The State Bank of Vietnam (SBV) has been invited to become a member of the Bank for International Settlements (BIS), the first expansion of the prestigious international financial institution's central bank membership base since 2011.

State Bank orders actions to fight black credit

State Bank orders actions to fight black credit

The State Bank of Vietnam (SBV) has issued a document requesting credit organisations and branches of foreign banks to expand credit activities serving production, business and consumption as part of efforts to limit “black credit”.

Bank lending rates expected to fall in 2020

Bank lending rates expected to fall in 2020

A report by securities firm SSI on the financial and monetary market says deposit interest rates are likely to be cut by 0.5- 1 percentage point this year, and lending interest rates would also be cut by at least 0.5 percentage points as required by the Government.

Strong e-payment growth recorded in 2019

Strong e-payment growth recorded in 2019

Cashless payments grew strongly in 2019, with 635,000 transactions worth a total of VND380 trillion recorded each day, according to statistics from the State Bank of Vietnam (SBV).

Credit growth exceeds 13 percent in 2019

Credit growth exceeds 13 percent in 2019

Credit grew over 13 percent in 2019, slightly below the yearly target of 14 percent, a senior official from the State Bank of Vietnam (SBV) told a recent press conference.

Vietnam’s forex reserves hit around 79 billion USD

Vietnam’s forex reserves hit around 79 billion USD

Vietnam’s foreign exchange reserves have reached approximately 79 billion USD so far this year, with a quarter of it bought by the State Bank of Vietnam (SBV), according to SBV Governor Lai Minh Hung.

Investment in agricultural sector remains modest

Investment in agricultural sector remains modest

The Government and the banking sector are paying more attention in enabling those involved in the agricultural sector to obtain loans from the bank, but the number of farmers and agricultural cooperatives to get access to bank loans remains modest, experts said at a seminar held in HCM City on December 27.

Daegu Bank of RoK to open branch in HCM City

Daegu Bank of RoK to open branch in HCM City

Daegu Bank of the Republic of Korea (RoK) is preparing to open a branch in Ho Chi Minh City after getting the green light from the State Bank of Vietnam (SBV).