Illustrative photo (Source: VNA) According to the SBV, between the beginning of 2022 and now,the US Federal Reserve (Fed) and many major central banks have tightenedmonetary policy, and raised interest rates.
Meanwhile, the Russia-Ukraine conflict has disrupted theglobal supply chain, pushed up gasoline and commodity prices, causing greatfluctuations in the international and domestic markets.
In response, the State Bank has proactively and flexibly implementedtools, solutions and interventions to maintain stable and smooth operation ofthe currency and foreign exchange markets.
The bank said after the latest trading band adjustment, it will continueto closely monitor market developments, coordinate monetary policy tools, and stay ready to sellforeign currencies to stabilise the market when necessary./.
VNA
