Vietnamplus

Vietnam’s economy is likely to strongly recover in the second quarter of 2023, said Tim Leelahaphan, Economist for Thailand and Vietnam at Standard Chartered.

VNDirect Securities Corporation expects Vietnamese foreign exchange reserves to recover to 3.3 months of imports and reach 102 billion USD by the end of this year from the current level of 89 billion USD last year, said in its updated macro report.

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.

The Government Office last week sent a written document to the central bank governor, referring to the mobilisation of idle gold and foreign currency sources from the people.