currency
The Currency category covers foreign exchange markets, monetary policy, and macroeconomic factors affecting currency valuations. It explores exchange rate fluctuations, central bank interventions, inflationary trends, and trade impacts, providing insights into currency markets, forex trading, and financial regulations. This section is essential for businesses, investors, and policymakers monitoring the effects of currency movements on the economy.
The State Bank is both buying and selling treasuries at the same time
On Wednesday the State Bank of Vietnam both bought VND 5,671.97 worth of treasuries from five local banks and sold another VND 5,500 billion to five Vietnamese banks. It’s not clear what the thinking is behind this but as far as keeping the exchange rate where it is, these two
Vietnam’s foreign reserves on table if VND decline continues: SBV Deputy Governor
Banks were selling US dollars for upwards of 25,000 Vietnamese dong a piece on Thursday, the most a single US dollar has been able to buy ever, according to VN Express. In response, the Deputy Governor of the State Bank of Vietnam (SBV), Dao Minh Tu, has said that the
Importers, exporters disagree over Vietnam’s currency strategy
A 1 percent increase in the value of the US dollar could equate to a US$12.1 million annual loss for Vietnam ‘s national carrier, according to Dang Ngoc Hoa, chairman of Vietnam Airlines, and reported by VN Express. The chairman of PetroVietnam, Le Manh Hung, is also advocating for keeping
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
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
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
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
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
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
State Bank of Vietnam issues more treasury bills, total hits US$2 billion
The State Bank of Vietnam completed its fourth bond issue in the past two weeks to the tune of another VND 20 trillion (US$829 million), Donah Nhan Vietnam is reporting. This brings the total value of bonds issued since the start of last week to VND 50 trillion (US$2 billion).
Vietnam state media confirms T-bills issued to support local currency
If there was any doubt as to why the State Bank of Vietnam has been issuing treasury bills, this article in state media outlet Vietnam News should clear it up. “The SBV has also been making its own moves to address the rising exchange rate including the recent issuance of
Mixed views on whether State Bank of Vietnam will cut interest rates again this year
Doanh Nhan Vietnam has compiled a range of views on whether or not the State Bank of Vietnam (SBV) will or even can reduce interest rates before the end of the year. Speculation is varied with UOB and MB Securities predicting further cuts and Rong Viet Securities, Maybank Securities, and
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
Vietnam treasury bills raise relieve pressure on VND
The State Bank of Vietnam has announced that it issued treasury bills to the value of VND 10 trillion (US$411 million) yesterday, The Investor is reporting. The online publication says this is ‘related to exchange rate developments in recent days.’ Pressure has been mounting on the dong in recent months
In today’s Vietnam news: Research prosecution exemption, Fuel retailer losses, Semiconductor degree requirements, Eurocham BCI, Government bond auction Wednesday, Australia tourist visa problems, Coffee
In today’s Vietnam news: Accor-Sun Group agreement, US largest ethanol supplier, Demographic dividend to end 3 years early, Maritime economy development, ACV looking to
In today’s Vietnam news: Vietnam Airlines trading restrictions removed, Insurance payouts VSS, Car sales June, 23+ years prison term recommended counterfeit supplements, Counterfeit shoes
This is an interview with Chris Walker, a Vietnam Sourcing Expert with Vietnam Factory Tours how rising oil prices and the Middle East crisis are
This is an interview with John Gardner, CEO and Founding Partner, at Optimum Hospitality in Ho Chi Minh City. It covers fuel price impacts on:
This is an interview with Dr Nuno F. Ribeiro, Associate Professor, International Tourism & Hospitality Management at Copenhagen Business College, formerly of RMIT Vietnam. It