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VietNamNet Bridge - The dollar price has been increasing steadily for a long time, though economists and state officials affirmed before that the price rise was just temporary.
Depreciating dong won’t bring a miracle
The State Bank of Vietnam puts high hopes on the
one percent depreciation of the local currency it made in late June.
However, economists believe that one should not be too optimistic about
the move.
State Bank cuts interest rate, adjusts dong-dollar
The State Bank of Viet Nam (SBV) has adjusted the dong-dollar
reference rate for the first time since December last year to 21,036
from 20,828, according to a statement on the central bank's website.
Devaluating dong now would burst everything into flames
VietNamNet Bridge – The dollar prices quoted by commercial banks
since the beginning of June have always been hitting the ceiling levels.
Is it now the time to adjust the dong/dollar exchange rate?
SBV says dollar price increases "artificially"
VietNamNet Bridge – Governor of the State Bank of Vietnam - Nguyen
Van Binh, has attributed the dollar price increases recently to the
banks’ “unfair play.”
Dong/dollar exchange rate to cool down in July
VietNamNet Bridge – The dollar price has been increasing these days
because of the slight demand increase. However, the dong/dollar exchange
rate is believed to get stabilized by early July 2013.
Dollar price increase raises rumor about dong devaluation
Commercial banks all have raised the dollar
selling price to the ceiling level of VND21,036 per dollar. The State
Bank’s Exchange late last week quoted the selling price at VND21,360 per
dollar.
Both trade deficit and surplus cause big worries to Vietnamese
Just within half a year, Vietnam’s foreign trade
has gone from one extreme to another. However, both the trade deficit
and trade surplus cause worries.
Bank scotches currency rumours
VietNamNet Bridge – The State Bank of Viet Nam denied speculation last week that it was preparing to adjust the exchange rate.
Deposit interest rates go down, where the money goes to then?
Since commercial banks have lowered the interest
rates, depositing has become less attractive in the eyes of investors.
Import-export companies seeking to force dollar interest rates down
VietNamNet Bridge – Importers and exporters have urged the State Bank
of Vietnam to slash the dollar interest rates further to 5 percent per
annum.
The original market, where 3 currencies are used for payment at the same time
At the Na Meo Market in Na Meo commune of Quan Son
district in Thanh Hoa province, buyers and sellers can use three currencies,
including Vietnam dong, Lao kip and US dollar, in making payment.
Central bank sends signal about exchange rate policy in 2013
The dollar price quoted by commercial banks and the price
in the black market bounced back earlier this week. However, after that, the
dollar price has decreased again.
SBV insists on stable dong/dollar exchange rate policy
VietNamNet Bridge – While economists have urged to devaluate the local currency
to help boost exports, the central bank believes that it’s not the right time to
do this.
Gold, dollar prices dance after Tet holiday
The dollar price has been fluctuating so heavily since
the market re-opening after the Tet holiday. However, experts believe that this
does not mean the start of the dong depreciation wave.
Economists say stabilized exchange rate nooses exporters
VietNamNet Bridge – The stabilizing of the dong/dollar exchange rate over the
last two years has made the local currency depreciate by 20 percent, which has
hindered exports.
Foreign currencies flowing out from the public
VietNamNet Bridge – A big amount of foreign currencies has been sold by people
recently since they, after weighing pros and cons, decided that it would be
better to keep dong than dollars.
Dong/dollar exchange rate not to be compressed in 2013
It is highly possible that the State Bank of Vietnam
would not make commitments on a fixed maximum depreciation of the local currency
in 2013, but a flexible exchange rate policy would be pursued.
SBV too hasty to stop capital mobilization and lending in foreign currencies
The State Bank of Vietnam has been taking drastic measures
to implement its plan to stop the capital mobilization and lending in foreign
currencies.
