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Update news yuan devaluation
Institutions, foreign and domestic, have confidence in the stability of the dong, despite the depreciation of many local currencies in ASEAN.
Chinese FDI is rushing into Vietnam, bringing huge capital. However, Vietnam has been told to be careful about using this capital.
Most currencies have depreciated against the US dollar but the Vietnam dong value has remained stable.
The decline of the Chinese economy will have a negative impact on Vietnam, but the impacts will be insignificant in the short term. Vietnam’s import/export activities will suffer the most.
VietNamNet Bridge - If Vietnam devalues the dong sharply, regulatory agencies will find it difficult to implement the plan to slash medium- and long-term bank loan interest rates, and the public debt will become worse.
VietNamNet Bridge - The Chinese yuan depreciation will affect Vietnam’s economy as the country is Vietnam’s third largest trading partner.