Update news exchange rate
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.