Monday, November 19, 2018 - 23:36:33

devaluation of the dong

VN currency suffers from US-China trade war

Business

VN currency suffers from US-China trade war

The Government will have to decide either to devalue the Vietnamese dong further against the US dollar to support exports and avoid cheaper Chinese goods to flood in the local market, or keep the USD/VND exchange rate stable to avoid increased public debt and control inflation as the US-China trade war accelerates.

Dong strengthens against dollar

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Dong strengthens against dollar

Vietnam's currency, the dong, has strengthened against the US dollar this week after the central bank's recent regulations on tightening foreign currency transactions.

Banks run out of credit quotas

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Banks run out of credit quotas

Many large-sized commercial banks have no scope for credit growth for the last months of the year, as they have used nearly all the quota allowed by the central bank.

 Shares retreat for a second day

Business

Shares retreat for a second day

Vietnamese shares dropped on August 20 for a second day - and for a seventh session in the last eight - as global oil prices plunged to a six-year low, weighing on energy stocks.

Experts believe in SBV's effort to keep forex rate under 2 pct

Business

Experts believe in SBV's effort to keep forex rate under 2 pct

Experts said the State Bank of Vietnam (SBV) will succeed in keeping the VND-USD exchange rate from fluctuating to below 2 percent this year.

Some have been concerned that the continuing sharp fall in prices of oil, which is one of Vietnam's key exports, will negatively impact on foreign currency supply and demand.

Vietnam growth outlook remains stable

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Vietnam growth outlook remains stable

Vietnam could see lower growth rates due to tighter US monetary policy and a slowdown in China 's growth, but currency devaluation, robust consumption and government spending will help protect growth rates, according to the latest report from accountancy institution ICAEW.

Ministry to curb luxury imports

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Ministry to curb luxury imports

The Ministry of Industry and Trade will step up efforts to control the trade deficity by more tightly restricting the import of luxury or unnecessary goods.

Devaluation drives up dollar, gold

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Devaluation drives up dollar, gold

Both US dollar and gold prices continued their steady upward creep on the black market for a sixth consecutive day on Feb. 17, following the State Bank of Vietnam's 9.3 percent devaluation of the dong.