vietnam's monetary market

Update news vietnam's monetary market

Central bank takes looser monetary measures

The State Bank of Vietnam (SBV) has relaxed monetary measures in the context of sharp declines in the foreign exchange rate in recent days.

Central bank takes looser monetary measures

The SBV this week also continued to reduce the bill interest rate from 4.2 per cent per year to 4.15 per cent per year.

SBV sticks to 0% rate to fight off dollarisation

Measures implemented by the State Bank of Vietnam (SBV) to fight off the dollarisation of the economy have produced positive effects in stabilising the exchange market, increasing foreign reserves, remittance flows and foreign investments.

Cheap money period in Vietnam forecast to come to an end

The period of cheap money in Vietnam is coming to end as deposit interest rates are increasing, say finance experts.

Banks pump over 18.88 billion USD into economy in June

Banks lent more than 480 trillion VND (18.88 billion USD) to economic entities in June, demonstrating the sector’s efforts in concretising the Government’s credit goal of 5-6% to the end of Q2.

Vietnam makes progress in budget transparency: OBS report

Vietnam ranks 57th out of the 125 surveyed countries in terms of budget transparency, up 11 places compared to 2021, according to the Open Budget Survey (OBS) 2023 released recently by the International Budget Partnership.

USD price reaches historic high, surpasses VND26,000 in free market

The USD price in the free market has surged past 26,000 VND/USD (selling), marking its highest level ever. This new peak sees the free USD price nearly 700 VND higher in the buying price compared to bank rates.

US report confirms Vietnam's currency management as non-manipulative

The US Treasury has recently made a positive assessment of Vietnam's monetary policy, reaffirming that Vietnam "does not manipulate currency."

Fed maintains high interest rates: Implications for gold prices & exchange rates

The US Federal Open Market Committee (FOMC) has decided to keep the benchmark interest rate unchanged for the seventh consecutive time, maintaining the rate at a 23-year high of 5.25-5.5% per year.

Central bank withdrew VND93 trillion to stabilise the gold and forex markets

According to SBV’s data, as of May 24, it sold a total of 48,500 taels of SJC gold with the winning bid price of VNĐ81.3-89.4 million per tael. It meant the estimated amount of money the SBV earned from the gold sales was about VNĐ4.2 trillion.

Vietnam dong seen weakening further against U.S. dollar in Q2 - UOB

The Vietnam dong currency is expected to fall to VND25,600 per U.S. dollar in the second quarter of 2024 but appreciate to VND24,800 in the final quarter of the year and VND24,600 in the first quarter of next year.

Exchange rates remain within controlled range: ADB expert

ADB forecast that low domestic interest rates, fiscal policy measures, and wage increases will drive consumer services in 2024.

US dollar continues gaining against VNĐ, hitting exchange ceiling

The exchange rates offered by the major banks have all hit the prescribed ceiling.

Businesses concerned about dollar appreciation

Enterprises which have to import raw materials for production or have dollar-denominated loans are very worried as their input costs will increase significantly.

The VND forecast to depreciate in H1/2024

On the interbank market, the average USD/VNĐ exchange rate is gradually approaching the peak of VNĐ24,867 per dollar from November 2023.

Vietnam to benefit from Fed’s rate cut

According to experts, the Fed’s interest rate cut will support Việt Nam’s monetary policy management as the State Bank of Vietnam (SBV) may not be under pressure of dollar appreciation after the greenback weakens in the wake of the Fed’s rate cut.

VN central bank drains more money from system

The State Bank of Vietnam (SBV) has withdrawn nearly VND75 trillion from the banking system over the course of the last five trading sessions.

Foreign exchange rate cools after central bank’s intervention

US dollar price in both official and unofficial markets has cooled down after the State Bank of Vietnam (SBV) intervened to reduce the speculation of the greenback on the domestic market.

Vietnamese dong likely to strengthen toward year end: UOB

The Vietnamese dong or VND is expected to strengthen slightly against the US$ in the latter half of this year, along with the country's economic recovery and the anticipated weakening of the greenback, according to Singapore-based bank UOB.

SBV issues treasury bills to cool down USD/VND exchange rate

While liquidity in the banking system is abundant and the pressure on the USD/VND exchange rate is high, the State Bank (SBV) issued a large amount of treasury bills to regulate Vietnamese dong liquidity, helping to cool down the exchange rate.