Update news exchange rate
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.
VietNamNet Bridge - The weaker euro and lower consumer spending are making it more difficult for Vietnamese exporters to enter the European market.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.