The State Bank of Vietnam (SBV) will increase its interference in the foreign currency market and stay ready to pump money to the market more frequently, thus creating favourable conditions for credit institutions to meet the demand for legal foreign currencies of organisations and individuals, according to Vice Director of the SBV’s Monetary Policy Department Pham Chi Quang.
The Lao Government will make efforts to stabilise the economy, finance and currency in order to prevent a crisis, Prime Minister Phankham Viphavanh said at the opening of the 9th National Assembly’s third session on June 13.
The US Department of the Treasury has recognised the progress made by Vietnam in its recently released report on macro-economic and foreign exchange policies of major trading partners of the US, the State Bank of Vietnam (SBV) said on June 13.
The Central Bank of Myanmar (CBM) has banned the use of foreign currency for local payments to stabilise the foreign exchange rate in the country, reported Xinhua news agency.
The Prime Minister has directed relevant agencies and sectors to immediately act to ensure the security and safety of activities in the finance-currency market.
Emerging East Asia’s total local currency bond issuance rose 7.1 percent to an all-time high of 9 trillion USD in 2021, according to the latest issue of the Asia Bond Monitor recently released by the Asian Development Bank (ADB).
The State Bank of Vietnam (SBV) is collecting opinions from organisations and individuals on the Prime Minister's draft decision on offshore loans and guarantees for non-residents of economic organisations.
The State Bank of Vietnam (SBV) has urged lenders to not relax credit approval conditions but set tighter control on foreign currency lending and granting loans in high-risk sectors.
Although the COVID-19 pandemic has harmed the global economy, remittances to Vietnam in 2021 remained high. In particular, the sum increased sharply at the end of the year, contributing to stabilising the supply of foreign currency in the country and developing the economy.
Shrimp export value exceeded 3.8 billion USD in 2021, up 3 percent from 2020 and making up around 45 percent of Vietnam’s earnings from the export of fishery products, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Over the past one month, the shrimp industry in the Mekong Delta has been exerting every effort to sustain operations and fulfill the signed export contracts while there is not much time left in 2021 and many new COVID-19 infections continue to be recorded in the region.
The Vietnam State Treasury (VST) has successfully purchased 150 million USD from 30 commercial banks, said Luu Hoang, head of the VST Department of Treasury Management.
The State Bank of Vietnam set the daily reference exchange rate at 23,177 VND/USD on August 23, up 11 VND from the last working day of previous week (August 20).
Thailand’s central bank said on August 19 it plans to test its retail digital currency for the public in the second quarter of 2022 as an alternative payment option.
Bank Negara Malaysia (BNM) and Bank Indonesia (BI) on August 2 agreed on the expansion of the ringgit-rupiah settlement framework between the two countries in accordance with a Memorandum of Understanding that was signed in 2016.
Vietnam is playing catch-up in a global race to develop its own digital currency and experts believe this will not only help the country develop new technology but also present an opportunity for Vietnam to join the most technologically-advanced countries.
Vietnam welcomes the decision of the United States Trade Representative (USTR) on July 23 not to take trade action against Vietnam in connection with the investigation into Vietnam’s currency policy, Foreign Ministry spokesperson Le Thi Thu Hang said on July 24.
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