exchange rate

Update news exchange rate

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.

VN Central Bank cuts interest rate in cautious step

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.

Vietnam’s forex reserves peak at $70 billion

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.

How will the US-China currency deal affect Vietnam’s exports?

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.

VND stable despite trade war escalation

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

VN yarn manufacturers worried about yuan depreciation

For every one percent of the yuan depreciation against the dollar, the price of Vietnam’s yarn export to China would lose 3 US cents per kilogram, analysts estimate.

VND depreciates less than other regional currencies

The US Federal Reserve has cut the FED Funds Rate by 0.25 percentage points to 2.5 percent because of the global economic growth slowdown, the trade tensions between the US and other countries, and low inflation rate.

Foreign capital flow keeps heading for Vietnam

More and more capital has been flowing to Vietnam, having a direct impact on the dong/dollar exchange rate.

 

Trump suggests buying Vietnamese goods instead of Chinese

A decrease in the US’ imports from China could present a good opportunity for Vietnam to fill in the gap.

VN not to devalue local currency for commercial advantage: analyst

International press late last week mentioned the possibility of the US adding Vietnam to the list of the countries it needs to monitor for currency manipulation.

Vietnam’s producers meet difficulties as yuan weakens.

In an effort to encourage exports in the context of the trade war, the Chinese central bank PBOC has set the yuan/US dollar reference exchange rate at 6.8365 yuan per US dollar, the lowest level since January 2019.

How will VND/USD exchange rate perform in US-China trade war?

The dong/dollar exchange rate has fluctuated sharply in recent days after the US decided to impose tariff of 25 percent on $200 billion worth of imports from China.

Macroeconomic indexes support VND: experts

VietNamNet Bridge - The US FED’s ‘less hawkish policy’ on raising interest rate has affected the exchange rate for the Vietnamese dong this year.

Despite a ban, US dollar transactions common in Vietnam

The ‘free’ foreign currency market has operated for many years. People go to gold shops to buy and sell dollars every day, even though the transactions are illegal.

Can Vietnam resist the global monetary crisis?

VietNamNet Bridge - Turkey, Argentina and other countries have recently witnessed their local currencies depreciating dramatically against dollars. How about Vietnam?

Will VND lose 3 percent of its value in 2018?

The depreciation of the Chinese yuan against the dollar has raised concerns that Vietnam’s goods will become less competitive in comparison with Chinese goods if Vietnam does not devalue its currency.

Business continue to worry about exchange rate fluctuations

VietNamNet Bridge - The currencies of many countries have depreciated sharply against the dollar, thus affecting the competitiveness of Vietnam’s goods.

Fighting against dollarization will help stabilize exchange rate: experts

Experts have urged the government to stop accepting deposits in US dollars from the public, saying that this is a necessary to stabilize the forex market and exchange rate, and fight against dollarization.

Banks refuse to buy US dollars from central bank

A senior official of the State Bank of Vietnam (SBV) on July 4 told Thoi Bao Kinh Te Vietnam that commercial banks had not registered to buy dollars at preferential prices from SBV.

Vietnamese dong to depreciate by 3% at most in 2018: BVSC

The Vietnamese dong will not depreciate much against the US dollar in the second half of this year, so the whole year’s slide will be 3 per cent at the most, BVSC has forecast.