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Category: Vietnam Currency news

Vietnam’s currency is on a floating peg that is managed by the State Bank of Vietnam. This means that the currency does not always behave as it might in other parts of the world. This section monitors Vietnam currency news including changes in monetary and fiscal policy, the exchange rate, and State Bank policies and objectives.


Interest rate hike speculation in Vietnam heats up

Whereas the bank has been spending its US dollar reserves in an attempt to keep the dong from devaluing too much, the reality is that it has already spent a lot–about US$2.95 billion according to ACB data and this has done little to weaken US dollar demand. With this in mind, an interest rate hike could be on the horizon.

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US dollar still at 25,450 dong level, more FX reserves needed

US dollars were being sold for 25,484 Vietnamese dong Sunday at some banks. This is above the 25,450 mark at which the State Bank of Vietnam has intervened by spending foreign currency reserves in the past. On the black market, US dollars were even higher selling for 25,800 a piece.

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UOB says Fed rate cut will see dong appreciate by year-end

Singpore’s United Overseas Bank–or UOB–has said that it expects the dong to appreciate between now and the end of the year, The Investor is reporting. This is reflected in UOB’s Quarterly Global Outlook 2Q24 which suggests that a recovery in China will likely strengthen the local currency as well as

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The Dong’s Wild Ride: Unpacked

The day that Russia invaded Ukraine, on February 24, 2022, the Vietnamese dong was trading at 22,843 dong to one US dollar–it had barely moved since the start of the year. This was in line with much of the past decade in which the local currency had only depreciated marginally,

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Bank of America expects dong to slide another 1 percent in 2024

The Bank of America is expecting the Vietnamese dong to slide by another 1 percent by the end of the year, CNBC is reporting. According to the publication, the BofA made the assessment based on “Vietnam’s political instability following the second presidential resignation in two years as well as difficulty

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Vietnam C.bank starts issuing T-bills to reduce pressure on dong

The State Bank of Vietnam issued VND 14.999 trillion or US$609 million yesterday in a  renewed attempt to halt the devaluation of the local currency, The Investor is reporting. Key takeaways: Overnight loans account for 90 percent of transactions and were attracting an interest rate of 1.17 percent on March

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This opinion piece re: US dollar, gold prices in Vietnam

Penned by Nguyen Huu Huan, an economist at the Ho Chi Minh City University of Economics, this piece in The Investor makes several points about US dollar and gold prices in Vietnam. These include: Gold fever is being driven by a lack of other investment options; The rising price of

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Black market US dollar prices in Vietnam highest ever

On the black market in Vietnam the US dollar is fetching up to 25,600 Vietnamese dong, the highest price it has ever pulled, according to Tuoi Tre. Conversely, the State Bank of Vietnam’s (SBV) floating peg is currently sitting at 24,012 with official channels permitted to buy the dong for

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Vietnam dong exchange rate closing in on 12-month high

US dollars were selling for 24,970 Vietnamese dong on the black market this morning, Zing News is reporting, getting closer to last October’s high of 25,280. Official rates are also getting close to their 2023 high with the official exchange rate set by the State Bank of Vietnam (SBV) this

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Vietnam back on US currency manipulation monitoring list

That said, the US Treasury did say that none of its trade partners appeared to be manipulating their currencies, according to Reuters.  Countries make the currency manipulation watch the meet two of the following three criteria: They have a trade surplus of US$15 billion or more. They have a current

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Calls to allow greater devaluation of the Vietnamese dong

Dr Huan Huu Nguyen, from the Ho Chi Minh City University of Economics, has told Donah Nhan Vietnam that the VND should be allowed to fluctuate within a greater range and that Vietnam should accept a short-term devaluation. Currently, the dong operates in a trading band of 5 percent either

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More on the US$411 million of treasury bonds issued last week

The Investor is carrying an article with interviews with several economists regarding the US$411 million treasury bond issuance last week. Can Van Luc, chief economist at state-controlled bank BIDV, said it was normal to keep interbank interest rates at appropriate levels. Le Xuan Nghia, a member of the National Financial

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