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Economic growth could reach 6.9% in 2019: VEPR

Economic growth could reach 6.9% in 2019: VEPR

Vietnam’s economic growth could reach 6.9 per cent in 2019, an increase of 0.1 per cent compared to the 2019 socio-economic development plan adopted by the National Assembly, in the context that Vietnam is benefiting from the US-China trade war.

VND stable as USD rises and yuan is weakening

VND stable as USD rises and yuan is weakening

The VND remained resilient against external factors including the stronger greenback and the weakened Chinese yuan, with a forecast for the dong to devalue by some 1% by the end of the year to short up exports.

Experts call to raise USD deposit rate

Experts call to raise USD deposit rate

The policy of zero interest rate on USD deposits is showing some shortcomings and the State Bank of Vietnam (SBV) may need to increase it, especially in light of certain pressures on the VND/USD exchange rate.

Reference exchange rate up four VND

Reference exchange rate up four VND

The reference exchange rate for Vietnamese dong against the US dollar was announced at VND21,952 per USD for October 4 morning, up VND1 from the day before.

Apparel exports reach US$12.6 bln in 6 months

Apparel exports reach US$12.6 bln in 6 months

Vietnam’s garment and textile exports in the first half of this year reached US$12.6 billion, a year on year increase of 4.72% and accounted for 41% of the sector’s target for 2016.

Vietnam weighs ceiling rate future

Vietnam weighs ceiling rate future

Vietnam’s monetary policies resemble China’s in many respects. Two prime examples are the control of capital flows and market interest rates, including the application of ceiling deposit interest rates.

Central rate raises VND11

Central rate raises VND11

The State Bank of Vietnam (SBV) on February 17 announced the reference rate for the Vietnam dong against the US dollar as VND21,895 per dollar, up VND11 compared with the previous day.

State Bank adjusts USD exchange rate

State Bank adjusts USD exchange rate

The State Bank of Vietnam (SBV) Operation Centre adjusted the reference exchange rate between the Vietnamese dong (VND) and the USD up by VND90 on the morning of December 15.

CNY addition to IMF currency basket has little impact on Vietnam

CNY addition to IMF currency basket has little impact on Vietnam

The recent inclusion of the Chinese yuan (CNY) to the reserve currency basket of the International Monetary Fund (IMF) will not have any significant impacts on Vietnam’s economy, experts said, adding that it takes at least six months or even a year to see any impacts.

Speculation blamed for forex volatility

Speculation blamed for forex volatility

As the greenback has been soaring against the dong in recent weeks, financial commentators have suggested this may be a result of dollar speculation in the forex market.

Opposing proposal for direct Chinese RMB - VND trading

Opposing proposal for direct Chinese RMB - VND trading

(VOV) -Economist Nguyen Minh Phong has suggested that Vietnam should not accept the proposal by the Chinese Business Association and the Industrial and Commercial Bank of China for direct trading between Chinese currency Renminbi (RMB) and Vietnamese currency Dong (VND) in the country.

USD devalues 0.6 percent against VND

USD devalues 0.6 percent against VND

US dollar (USD) devalued about 0.6 percent against Vietnam dong (VND) in July, according to the Ministry of Industry and Trade (MoIT).