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The State Bank of Vietnam (SBV) does not plan to adjust the dong/dollar exchange rate now because this would place a heavier burden of foreign debt on the government and businesses.
Exchange rate fluctuations affecting Vietnamese businesses
VietNamNet Bridge - The weaker euro and lower consumer spending are making it more difficult for Vietnamese exporters to enter the European market.
Weaker euro concerns Vietnamese exporters
VietNamNet Bridge - The depreciation of the euro against the greenback amid a struggling European economy has begun to worry Vietnamese exporters.
Is it time to devalue the Vietnamese dong to boost exports?
VietNamNet Bridge – Economists from Hanoi National University have
urged the government to adjust the dong/dollar exchange rate, while the
National Finance Supervision Council said stabilizing the exchange rate
is a top priority.
Dong depreciation increases Vietnam’s foreign debt
VietNamNet Bridge – The latest decision by the State Bank of Vietnam
(SBV) will put pressure on Vietnam’s foreign debt payments in 2015,
analysts have said.
VND/USD exchange rate to fluctuate no more than 2% in 2015
VietNamNet Bridge – The State Bank of Vietnam will continue to
pursue its current dong/dollar exchange rate stabilization policy in
2015. Vietnamese dong depreciation, if it occurs, will not be higher
than two percent.
US dollar price rises, but SBV does not adjust exchange rate
VietNamNet Bridge – The US dollar price has unexpectedly been
increasing in recent days, but the nominal exchange rate remains
unstable. Economists believe an adjustment of the exchange rate would
not boost exports.
Dong stable despite US dollar hike, uncertainties in Hong Kong
VietNamNet Bridge – The US dollar price in Vietnam has increased
slightly, but this is not alarming as demand has always increased in the
third quarter of the year.
US dollar expected to appreciate against dong
VietNamNet Bridge - Financial institutions believe the dong will
depreciate further in the last months of the year after losing one
percent of value since mid-June.
BUSINESS IN BRIEF 23/6
New exchange rate not affecting inflation control; Steel firms lobby against policy favouring Hoa Phat; 3 big Vietnamese firms join in $566mn cattle project; Indian animal feed suppliers to explore Vietnam market
Dollar price hits ceiling, but exchange rate stable
VietNamNet Bridge – The US dollar climbed to its highest peak against
the Vietnamese dong yesterday morning to VND21,245 per dollar, but
analysts believe that the exchange rate will stabilise.
State Bank makes big efforts to stem dollar price fall
VietNamNet Bridge – If the State Bank of Vietnam had not made
the timely intervention, the dollar prices would have tumbled more
dramatically in recent days.
Dollar market wakes up suddenly after long sleep
VietNamNet Bridge – The dollar market, which has been stable for a
long time, has heated up with the prices increasing in both the black
and official markets.
VND depreciation won’t be sharp enough to give people a start
VietNamNet Bridge – No one thinks that the dong would be devaluated
by 2 percent by the end of the year. In general, Vietnam would need more
than 3 months for such a big currency devaluation.
National report: Interbank market hot, no pressure on exchange rate
In its latest report about the macro economy, the
National Finance Supervision Council highlighted the heat in the
interbank market, where the trading value reached the highest peak so
far this year.
BUSINESS IN BRIEF 26/10
Rising food costs bump up CPI in major cities; SBV restarts USD buy-back scheme; Auto show strikes upbeat note; Chinese firms to display produce; EU sends funding for local SMEs
BUSINESS IN BRIEF 28/9
Gold measures balance market; Interbank interest rates fall 1.17%; Index rise ignites industrial hope; SBV regulates debt grouping; Labour exporters rate performance
BUSINESS IN BRIEF 9/8
Vietnam ships over 4 million tonnes of rice; Foreign investors keen on new localities; Vietnamese honey gets export permission to EU; State bank raises price of US dollar
Dollar appreciation makes businesses worried stiff
The dollar price increases have put businesses on
tenterhooks, though it is now just the third quarter of the year, while
they would only need more dollars in the fourth quarter to make payment
for the imports.
BUSINESS IN BRIEF 12/7
World’s tiniest electric unicycle on sale in Vietnam; Vietnam outlook rated stable, but wide reforms needed; Additional 1 mln EUR for developing tourism workforce
