Market analysis reports released by Mirae Asset Securities Vietnam showed that in April, the USD/VND exchange rate dropped 0.2% and the average exchange rate hovered around 23,500 VND/USD during the month. The rate has remained stable throughout the January-April period.
The United Overseas Bank rated the Vietnam dong as one of the most stable currencies in Asia, despite significant changes in the Fed's interest rate hike expectations as well as concerns about a global recession and instability of the US banking system.
In the first four months of this year, the State Bank of Vietnam bought nearly 4.9 billion USD from credit institutions, up about 1 billion USD from the amount recorded at the end of the first quarter of 2023.
Experts from VNDirect forecast that Vietnam's foreign exchange reserves will recover to reach 102 billion USD by the end of this year./.
