The US dollar price has been increasing sharply over the last two weeks. 

Depositing money at banks is prefered by most people who have idle money. However, it is now less attractive than corporate bonds and gold.

SSI Research says the financial market in 2020 will be unpredictable and much less active than the forecasts released at the end of 2019.

The State Bank of Vietnam (SBV) has many times affirmed that Vietnam has no intention of devaluing the local currency to gain advantages in trade with its partners.

The official dong/dollar exchange rate announced by SBV reached a peak of VND23,206 per dollar on February 4, an increase of VND36 per dollar compared with the time before Tet.

Vietnam plans to buy more electricity from neighbouring countries, but a big loss of VND3.09 trillion is pending.

As one of the fastest-growing economies, Vietnam still needs to reduce regulatory burdens and promote economic integration to achieve the country’s sustainable development goals through 2030.

Vietnam is one of 10 countries in the latest watchlist for currency manipulation released by the US Treasury Department.

The Vietnamese dong (VND) would average just slightly weaker by around 1 percent to VND23,475/USD in 2020 due mainly to an predicted decrease in foreign direct investment (FDI) inflows and higher imports.

The BIDV’s sale of shares to South Korean investor, the technology upgrading race among banks and a series of moves taken by the central bank are the highlights of 2019.

The State Bank of Vietnam (SBV) bought a record high amount of foreign currencies this year. The same is expected in 2020.

When the State Bank of Vietnam (SBV) late last week slashed the dollar purchase price, the greenback prices quoted by commercial banks were adjusted immediately.

The international and domestic forex markets have seen many unexpected movements recently.

Vietnam’s forex reserves had reached $73 billion, equal to the value of 14 weeks of imports, as of October 31.

The level of dollarization of an economy is based on the ratio of foreign currency deposits to total money supply (M2), or total deposits; and the ratio of outstanding foreign currency loans to M2, or total outstanding loans.

The central bank believes that for an open economy like Vietnam, the sharp devaluation of the local currency will not help boost exports, but will do more harm than good.

Applauding the State Bank of Vietnam’s move to cut the prime interest rate, experts said the 0.25 percentage point cut, however, is relatively modest.

After two big purchases of foreign currencies in the first four months of the year and from July until now, Vietnam’s forex reserves reached the highest level, now at $70 billion.

Businesses are optimistic about the prospects of the two largest export markets, the US and China, after the Chinese yuan for the first time fell from the ‘red line’ since 2008 to 6,9225 yuan per dollar.

Most currencies have depreciated against the US dollar but the Vietnam dong value has remained stable.