China’s yuan (renminbi) has remained above the sensitive level of seven to the US currency for the last three days, hinting that trade friction between the US and China is entering a dangerous phase.

 The State Bank of Viet Nam weakened the Vietnamese dong by 1 per cent, raising the US$-VND daily reference rate from VND21,246 to VND21,458.

 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 State Bank of Vietnam (SBV) has sold dollars to commercial banks in an effort to stabilize the dong/dollar exchange rate amid the year-end dollar demand increase.

 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.  

The State Bank of Vietnam said it will slash the deposit dollar interest rates. However, it would keep cautious steps when deciding when and how much to slash the interest rates in order to ensure the liquidity for the banking system.

 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.