Vietnamese can trade in yuan at the border with China, the State Bank of Vietnam has decreed.
Vietnam’s central bank has to engage in a delicate balancing act as the US-China trade war exerts inflationary pressures on the dong.
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.
The inclusion of China’s yuan into the International Monetary Fund (IMF)’s basket of reserve currencies will impact finance across the globe, and Vietnam is no exception.
Danang authorities have said that they want to shut down a local tourism firm after one of its clients from China burned Vietnamese money at a bar in the city last week.
(VOV) - Instabilities in the Chinese securities market and escalating tension in the Middle East have affected the global stock market.
Vietnam’s economic growth in 2015 is forecast to reach 6.4%, according to the Ministry of Planning and Investment.
The government of Vietnam has said that the national economy has not been hurt by the Chinese yuan devaluation but analysts are less optimistic.
(VOV) - As a consequence of China’s devaluation of its currency, the yuan, last week by roughly 4% against the US dollar, Vietnam exporters will struggle to remain price competitive in both the domestic and overseas markets.
A real estate bubble of the kind seen in 2007 is not likely to occur this year or 2016, according to Le Hoang Chau, Chairman of the Ho Chi Minh City Real Estate Association (HoREA).
A group of prominent private investors appears to have avoided some of the pain caused by recent market turmoil in China.
Prime Minister Nguyen Tan Dung chaired a meeting with relevant ministries, sectors and agencies to look at the possible impacts of the Chinese yuan’s devaluation on Vietnam’s economy.
Japan and China on June 1 began direct bilateral trade of their currencies (Yen and Yuan). This not only simplifies trade and financial transactions between the countries but also has a considerable impact on their political relations.
A Treasury report on foreign exchange rates has lawmakers in a tizzy about China's cheap currency.
US President Barack Obama said on April 13 that China had yet to set a timetable for reforming the yuan despite "frank" conversations with Chinese President Hu Jintao and a Chinese spokesman said Beijing would not bow to foreign pressure on currency reform.