The relatively low devaluation of the VND against the USD in comparison with that of other currencies in the region shows that the Vietnamese stock market remains an attractive destination for investment flows, as uncertainties persist in most of the global financial market, according to a weekly investment strategy report of the Vietcombank Securities Co., Ltd (VCBS).
Amid rising non-performing loans (NPLs), many banks have strongly increased their loan-loss reserve (LLR) funds to readily face uncertainties in the future.
Most banks reported strong profit growth from the foreign exchange business in the first three quarters of this year thanks to the sharp appreciation of the US dollar, Q3 2022 financial statements showed.
The State Bank of Vietnam set the daily reference exchange rate for the US dollar at 23,678 VND/USD on November 14, down 5 VND from the last working day of the previous week (November 11).
The State Bank of Vietnam (SBV) on October 24 continued to sharply increase the selling price of the US dollar by 490 VND to 24,870 VND per USD - the highest rise in many years.
The State Bank of Vietnam set the daily reference exchange rate for the US dollar at 23,700 VND/USD on October 24, up 2 VND from the last working day of the previous week (October 21).
Plastic granule prices are expected to fall in the short term, a favourable circumstance that would drive plastic producers towards better profitability.
Business
