This estimate of Vietnam’s forex reserves spent on propping up dong

The State Bank of Vietnam has spent an estimated US$500 to 700 million of its foreign exchange reserves over the last few weeks in an attempt to prop up the dong, The Investor is reporting. This estimate came from WiResearch which also estimated Vietnam’s forex reserves to be at around US$90 billion–Vietnam’s imports were just over US$30 billion in April and based on these estimates, Vietnam’s forex reserves would now be below the three months’ worth of imports recommended by the International Monetary Fund.