VietNamNet Bridge - The dollar prices quoted by largest commercial banks have fallen since the day the Circular No 15 took effect on October 5.

The dollar price has cooled down after climbing when the State Bank announced the dong devaluation of one percent in August, having dealt a blow to businesses which hoarded dollars in anticipation of a continued dollar price hike.

VietNamNet Bridge - In order to keep the interest rate gap between the dollar and the dong attractive, the interest rates for dong have not been reduced.

VietNamNet Bridge - Reuters has quoted reliable sources that say TPP member countries plan to sign an agreement not to devalue local currencies to boost their respective exports.

VietNamNet Bridge - Vietnamese businesses are holding their breath waiting for the US FED’s decision to raise the prime interest rate increase, slated for September.

VietNamNet Bridge - Businesses and analysts have questioned the State Bank of Vietnam’s (SBV) statement that it would not devalue the dong any further until the end of 2015.

VietNamNet Bridge - The time when Vietnamese businesses rushed to borrow US dollars to enjoy low interest rates is over.

VietNamNet Bridge - Import/export companies say that the fluctuations in the price of the dong have dealt a strong blow to their business, but the Ministry of Industry and Trade (MOIT) says the Chinese yuan devaluation has had no effect.

Banks and businesses have begun selling dollars after an urgent meeting with SBV which affirmed that it would not adjust the dong/dollar exchange rate until the end of the year, and it would sell dollars to intervene in the market when necessary.

 VietNamNet Bridge – The dollar price has been falling for one week, despite the State Bank of Vietnam’s move to devaluate the dong by one percent one month ago.