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foreign currency
Update news foreign currency
The Government plans to issue US dollar-denominated bonds in the domestic market to fund additional stimulus packages to foster the recovery of the economy.
Faith abounds in growth prospects
Despite a decline in state budget revenue, remittances, and foreign direct investment, Vietnam is expected to see positive growth with a surplus in current account this year thanks to a rise in export turnover and foreign currency reserves.
Foreign currency market stabilised following central bank’s intervention
The US dollar on March 25 depreciated against the Vietnamese dong after the State Bank of Vietnam (SBV) sold the greenback on the cheap to stabilise the local foreign exchange market.
Circular regulates foreign currency lending
The State Bank of Viet Nam (SBV) recently issued Circular No.
43/2014/TT-NHNN (December 25, 2014) on lending in foreign currency by
credit institutions and foreign bank branches to residents.
BUSINESS IN BRIEF 10/1
HCMC apartment supplies surge; Dong fall piles pressure on foreign debt payment; Fuel import tariffs hiked to back wholesalers - ministry; Amata seeks to invest in Binh Dinh; HSBC puts GDP growth at 6.1% this year
Foreign exchange control of FDI activities
VietNamNet Bridge – The State Bank of Viet Nam (SBV)'s Circular
19/2014/TT-NHNN (11 August 2014) guides foreign exchange control of
foreign direct investment activities in Viet Nam such as
contribution of investment capital,
Time bomb laid in foreign currency credit market
The dollar lending interest rate is lower by at
least 3-5% annually than the dong interest rate, which is the
reason for the sharp increase in the ratio of the dollar outstanding
loans on dollar deposits.
BUSINESS IN BRIEF 4/1
Gov’t intensifies crackdown on trade fraud; Restrictions on foreign currency tightened; No gov't back up for foreign loans; Manufacturing output rises at fastest pace, says HSBC; Vietnam attracts nearly US$22 bln in FDI
FDI firms may open local currency accounts
VietNamNet Bridge – International investors and foreign direct
investment (FDI) enterprises operating in the country may be allowed to
open investment accounts in Vietnamese dong in addition to those in
foreign currency.
Vietnamese investors bury their money at “gambling arenas”
VietNamNet Bridge – “Underground” foreign exchanges have been
mushrooming, operating under the cover of “investment consultancy
firms.” The foreign exchanges have been “living well” on the investors’
greed.
The enigmatic silence on the foreign currency market
The state management agencies kept silent when
something unusual happened in the foreign currency market. As a result,
people had no other choice than making a wild guess about the market
prospect.
What’ll the main markets be like in 2013?
The stock market would attract more investors in 2013,
while the real estate market would still be in its hibernation.
