Vietnam’s forex reserve sets new record Business

Vietnam’s forex reserve sets new record

Vietnam’s foreign exchange reserve has hit a new record high of 92 billion USD, a significant expansion from 84 billion USD which Governor of the State Bank of Vietnam Le Minh Hung revealed in April.
Forex rate forecast to remain stable till year-end Business

Forex rate forecast to remain stable till year-end

The Vietnamese dong was expected to remain broadly stable against the US dollar over the remainder of 2019 and to be slightly weaker on average over 2020, buoyed by robust foreign direct investment (FDI) inflows, dollar purchases by businesses, and a healthy foreign reserve position, experts forecast.
Over 6 billion USD purchased to raise forex reserves Business

Over 6 billion USD purchased to raise forex reserves

The country net purchased over 6 billion USD in 2018 to raise its foreign exchange reserves, the State Bank of Vietnam (SBV) reported at a meeting in Hanoi on January 9 to launch tasks for the banking sector this year.
Central bank requests control on foreign currency loans Business

Central bank requests control on foreign currency loans

Governor of the State Bank of Vietnam (SBV) Le Minh Hung has recently directed the entire banking industry to strictly control foreign currency lending to better minimise dollar speculation and fight against dollarisation in the economy.
Central bank to up inspection: PM Business

Central bank to up inspection: PM

PM Nguyen Xuan Phuc has required the State Bank of Vietnam to enhance inspection and supervision to ensure the safety of the banking system and increase the confidence of people in the system in 2018.
Gov’t studies making use of idle dollars, gold Business

Gov’t studies making use of idle dollars, gold

How to mobilise idle foreign currency and gold from locals to invest in business and production has become a hot issue recently, with the Government once again asking the central bank to consider proposals.
Anti-dollarisation efforts face challenges Business

Anti-dollarisation efforts face challenges

The State Bank of Vietnam’s anti-dollarisation efforts have managed to keep the dong-dollar exchange rate fairly steady for a long time, thus helping stabilise the monetary market.