Vietnamplus

The State Bank of Vietnam set the daily reference exchange rate at 23,213 VND per USD on October 1, down 2 VND from the previous day.

The national consumer price index (CPI) in July grew by 0.4 percent against June and 3.39 percent year-on-year, the General Statistics Office (GSO) reported on July 29.

Experts have forecast bank credit growth in the second quarter to reach 3.5-4 percent, much higher than the rate in the first quarter.

Ho Chi Minh City reported a decrease of 0.18 percent in its consumer price index in February compared with that of the previous month, according to the municipal Statistics Office.

The USD/VND exchange rate has grown strongly at the heart of the global fight over economic dominance between the US and China, the world’s two largest economies.

The US Federal Reserve (Fed)’s latest rate cut will benefit commodity and equity markets in the short term, according to specialist Nguyen Tri Hieu.

Prices of gold, real estate and stocks would be pushed up by the US Fed’s decision to reduce interest rates, a move that tends to make the US dollar lose value against other foreign currencies.

Among the 11 main commodity groups, nine experienced price rises while two saw the same price drop of 0.03 percent.

Vietnam’s consumer price index (CPI) in July rose by 0.18 percent month-on-month, and 2.44 percent from the same period last year, according to the General Statistics Office (GSO).

Vietnamese banks are seeking to raise capital in international bond markets as they face growing pressure to hike capital to satisfy the central bank's regulations on minimum capital requirements and Basel II standards by early next year.

The consumer price index (CPI) between January and May increased by 2.74 percent from the same period last year – the slowest five-month pace over the last three years, according to the General Statistics Office (GSO).

The overall inflation hikes much higher than the core inflation, mainly due to increased fuel and electricity prices. However, the core inflation inched up by only 1.85 percent in the first five month

The foreign exchange market in Vietnam has heated up recently when the daily reference exchange rate set by the State Bank of Vietnam (SBV) continuously climbed to new record levels and the VND/USD rates listed at commercial banks also surged.

Experts have predicted that the State Bank of Vietnam (SBV) will hike the VND/USD exchange rate by 1.5-2 percent in 2019 to stabilise the macro-economy and facilitate exports.

In 2018, the VND only devalued about 2.2-2.3 percent compared to the USD and lower than the depreciation of EUR, pound and yuan at 4.5 percent, 5.7 percent and 5.4 percent, respectively.

The Vietnamese monetary market will not suffer from any significant impact from the US Federal Reserve (FED)’s fourth interest rate hike in 2018 as the move was already expected, experts have said.

The average consumer price index (CPI) in the nine months of 2018 rose by 3.57 percent year on year, compared to the 4.14-percent growth in the same period last year, according to the General Statistics Office (GSO).

Vietnam’s consumer price index (CPI) in August inched up 0.45 percent month-on-month, and 3.89 percent from the same time last year, pushing up the eight-month figure to 3.52 percent year on year, according to the General Statistics Office (GSO).

The US-China trade war and the fall in the Chinese Yuan post big impacts for the world economy, including Vietnam. Some experts have said Vietnam should employ flexible exchange rate policies in response.

The State Bank of Vietnam (SBV)’s recent response to the continuous rise of USD prices has demonstrated its readiness to make an intervention in order to stabilise the foreign exchange market.