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Vietnam C.bank supports dong with US$217.3 million in T-bills, Friday

July 26

  • The State Bank of Vietnam–the SBV–set the exchange rate at 24,249 .
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was buying US dollars for 25,121.
  • Vietcombank was selling US dollars for 25,461.
  • Through open market operations the SBV also issued treasury bills in the amount of VND 5,500 billion or US$217.3 million.
  • The SBV also made short term loans to six banks in the amount of VND 12,343 billion or US$487.6 million.

July 25

  • The State Bank of Vietnam–the SBV–set the exchange rate at 24,264 .
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was buying US dollars for 25,138.
  • Vietcombank was selling US dollars for 25,478.
  • Through open market operations the SBV also issued treasury bills in the amount of VND 1,300 billion or US$51.4 million.
  • The SBV also made short term loans to six banks in the amount of VND 7,999.99 billion or US$316.27 million.

July 24

  • The State Bank of Vietnam–the SBV–set the exchange rate at 24,264 .
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was buying US dollars for 25,177.
  • Vietcombank was selling US dollars for 25,477.
  • Through open market operations the SBV also issued treasury bills in the amount of VND 1,600 billion or US$63.1 million.
  • The SBV also made short term loans to eight banks in the amount of VND 13,999.99 billion or US$552 million.

July 23

  • The State Bank of Vietnam–the SBV–set the exchange rate at 24,264 .
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was buying US dollars for 25,157.
  • Vietcombank was selling US dollars for 25,477.
  • Through open market operations the SBV also issued treasury bills in the amount of VND 3,950 billion or US$155.7 million.
  • The SBV also made short term loans to eight banks in the amount of VND 13,063 billion or US$515 million.

July 22

  • The State Bank of Vietnam–the SBV–set the exchange rate at 24,261 .
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was buying US dollars for 25,154.
  • Vietcombank was selling US dollars for 25,474.
  • Through open market operations the SBV also issued treasury bills in the amount of VND 3,850 billion or US$152 million.
  • The SBV also made short term loans to six banks in the amount of VND 11,638.88 billion or US$459.4 million.

July 19

  • The State Bank of Vietnam–the SBV–set the exchange rate at 24,246 .
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was buying US dollars for 25,158.
  • Vietcombank was selling US dollars for 25,458.
  • Through open market operations the SBV also issued treasury bills in the amount of VND 5,750 billion or US$227 million.
  • The SBV also made short term loans to two banks in the amount of VND 5,921 billion or US$233.8 million.

July 18

  • The State Bank of Vietnam–the SBV–set the exchange rate at 24,251 .
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was buying US dollars for 25,150.
  • Vietcombank was selling US dollars for 25,450.
  • Through open market operations the SBV also issued treasury bills in the amount of VND 17,100 billion or US$675.4 million.
  • The SBV also made short term loans to two banks in the amount of VND 2,914.68 billion or US$115.1 million.

July 17

  • The State Bank of Vietnam–the SBV–set the exchange rate at 24,256 .
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was buying US dollars for 25,168.
  • Vietcombank was selling US dollars for 25,468.
  • Through open market operations the SBV also issued treasury bills in the amount of VND 8,100 billion or US$319.85 million.
  • The SBV also made short term loans to three banks in the amount of VND 13,573 billion or US$536 million.

July 16

  • The State Bank of Vietnam–the SBV–set the exchange rate at 24,245 .
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was buying US dollars for 25,237.
  • Vietcombank was selling US dollars for 25,457.
  • Through open market operations the SBV also issued treasury bills in the amount of VND 11,200 billion or US$441.3 million.
  • The SBV also made short term loans to three banks in the amount of VND 8,895.66 billion or US$350.5 million.

July 15

  • The State Bank of Vietnam–the SBV–set the exchange rate at 24,245 .
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was buying US dollars for 25,237.
  • Vietcombank was selling US dollars for 25,457.
  • Through open market operations the SBV also issued treasury bills in the amount of VND 5,950 billion or US$234.5 million.
  • The SBV also made short term loans to one bank in the amount of VND 3,000 billion or US$118.2 million.

July 12

  • The State Bank of Vietnam–the SBV–set the exchange rate at 24,248 .
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was buying US dollars for 25,240.
  • Vietcombank was selling US dollars for 25,460.
  • Through open market operations the SBV also issued treasury bills in the amount of VND 14,750 billion or US$580.3 million.
  • The SBV also made short term loans to one bank in the amount of VND 552.4 billion or US$21.7 million.

July 11

  • The State Bank of Vietnam–the SBV–set the exchange rate at 24,253 .
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was buying US dollars for 25,245.
  • Vietcombank was selling US dollars for 25,465.
  • Through open market operations the SBV also issued treasury bills in the amount of VND 7,050 billion or US$277.3 million.
  • The SBV also made short term loans to three banks in the amount of VND 14999.9 billion or US$590.1 million.

July 10

  • The State Bank of Vietnam–the SBV–set the exchange rate at 24,247 .
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was buying US dollars for 25,239.
  • Vietcombank was selling US dollars for 25,459.
  • Through open market operations the SBV also issued treasury bills in the amount of VND 5,050 billion or US$198.7 million.
  • The SBV also made short term loans to six banks in the amount of VND 14999.9 billion or US$590.1 million.

July 9

  • The State Bank of Vietnam–the SBV–set the exchange rate at 24,242 .
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was buying US dollars for 25,234.
  • Vietcombank was selling US dollars for 25,454.
  • Through open market operations the SBV also issued treasury bills in the amount of VND 4,500 billion or US$177 million.
  • The SBV also made short term loans to seven banks in the amount of VND 9999.99 billion or US$393.4 million.

July 8

  • The State Bank of Vietnam–the SBV–set the exchange rate at 24,243 .
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was buying US dollars for 25,235.
  • Vietcombank was selling US dollars for 25,455.
  • Through open market operations the SBV also issued treasury bills in the amount of VND 2,300 billion or US$90.5 million.
  • The SBV also made short term loans to four banks in the amount of VND 9999.95 billion or US$393.4 million.

July 5

  • The State Bank of Vietnam–the SBV–set the exchange rate at 24,246.
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was buying US dollars for 25,238.
  • Vietcombank was selling US dollars for 25,458.
  • Through open market operations the SBV also issued treasury bills in the amount of VND 5,850 billion or US$230.2 million.
  • The SBV also made short term loans to eight banks in the amount of VND 11,999.99 billion or US$471.2 million.

Of note: The US$230.2 million lent to local banks is significant in that it is much bigger than usual and also was released to eight banks. This is in an environment whereby deposit interest rates are hitting all time highs and in this context it might suggest there are some liquidity challenges in the system.

July 4

  • The State Bank of Vietnam–the SBV–set the exchange rate at 24,251.
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was buying US dollars for 25,243.
  • Vietcombank was selling US dollars for 25,463.
  • Through open market operations the SBV also issued treasury bills in the amount of VND 9,550 billion or US$375,208,040.
  • The SBV also made short term loans to four banks in the amount of VND 5,178 billion or US$203,420,119.

July 3

  • The State Bank of Vietnam–the SBV–set the exchange rate at 24,258.
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was buying US dollars for 25,250.
  • Vietcombank was selling US dollars for 25,470.

Of note: A time of writing (July 4, 10.30am) the SBV had not published any data on its open market operations on Wednesday.

July 2

  • The State Bank of Vietnam–the SBV–set the exchange rate at 24,253.
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was buying US dollars for 25,215.
  • Vietcombank was selling US dollars for 25,245.
  • Through open market operations the SBV also issued treasury bills in the amount of VND 13,850 billion or US$544,097,250.
  • The SBV also made short term loans to four banks in the amount of VND 1,604 billion or US$63,013,140.

July 1

  • The State Bank of Vietnam–the SBV–set the exchange rate at 24,252.
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was buying US dollars for 25,244.
  • Vietcombank was selling US dollars for 25,464.
  • Through open market operations the SBV also issued treasury bills in the amount of VND 12,300 billion or US$483,187,050.
  • The SBV also made short term loans to four banks in the amount of VND 4,240 billion or US$166,562,040.

Of note: Over the weekend a tranche of data was released by Vietnam’s General Office of Statistics. This included the Consumer Price Index for June which came in at 4.32 percent. This was a slight fall over May but still leaves the key index still hovering very close to the 4.5 percent upper limit set by the government at the start of the year.

June 28

  • The State Bank of Vietnam–the SBV–set the exchange rate at 24,260.
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was buying US dollars for 25,253.
  • Vietcombank was selling US dollars for 25,473.
  • Through open market operations the SBV also issued treasury bills in the amount of VND 6,100 billion or US$239,639,110.
  • The SBV also made short term loans to ten banks in the amount of VND 20,000 billion or US$$785,701,607.

Of note: Whereas the State Bank lowered its reference rate, which was also reflected in the exchange rate at Vietcombank, on the black market the local currency breached 26,000 dong to a single US dollar.

June 27

  • The State Bank of Vietnam–the SBV–set the exchange rate at 24,264.
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was buying US dollars for 25,257.
  • Vietcombank was selling US dollars for 25,477.
  • Through open market operations the SBV also issued treasury bills in the amount of VND 9,200 billion or US$361,387,040.
  • The SBV also made short term loans to three banks in the amount of VND 7,000 billion or US$274,968,007.

Of note: The exchange rate is still pushing higher with the State Bank increasing its reference rate yet again. Demand does not seem to be going away at the end of the month and also the end of the quarter.

June 26

  • The State Bank of Vietnam–the SBV–set the exchange rate at 24,258.
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was buying US dollars for 25,250.
  • Vietcombank was selling US dollars for 25,470.
  • Through open market operations the SBV also issued treasury bills in the amount of VND 4,630 billion or US$181,807,599.
  • The SBV also issued a short term loan to one bank in the amount of VND 552 or US$21,658,665
  • The SBV has also kept selling US dollars to stop the local currency from devaluing. An estimated US$600 million were sold by the central bank yesterday, according to ACB data. This brings the total sold since April to about US$5.8 billion.

Of note: The treasury bills issued today were at a slightly increased interest rate. Whereas last week they were paying 4.25 percent, this increased to 4.3 percent yesterday, and today jumped to 4.5 percent. This fact, combined with the aforementioned Forex intervention, as well as higher exchange rates at Vietcombank would suggest that there is a lot of pressure currently mounting on the local currency. 

June 25

  • The State Bank of Vietnam–the SBV–set the exchange rate at 24,253.
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was buying US dollars for 25,245.
  • Vietcombank was selling US dollars for 25,465.
  • Through open market operations the SBV also issued treasury bills in the amount of VND 25,000 billion or US$981,932,500.
  • The SBV also returned to selling US dollars to stop the local currency from devaluing. An estimated US$350 million were sold by the central bank, according to ACB data.

Of note: The volume of treasury bills issued today is a significant jump. Yesterday, it was about half–US$398 million worth–of what it was today. This is inline with demand for US dollars likely peaking as firms look to settle their accounts at the end of the month. The accumulated value of dollars sold by the bank is also creeping up. It’s now sitting around US$5 billion worth since April which should mean the bank has about US$95 billion left, however, the bank is notoriously cagey about what it has in reserves so this is difficult to confirm.

June 24

  • The State Bank of Vietnam–the SBV–set the exchange rate at 24,262.
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was buying US dollars for 25,255.
  • Vietcombank was selling US dollars for 25,475.
  • Through open market operations the SBV also issued treasury bills in the amount of VND 10,150 billion or US$398,687,940.

Of note: US dollars in Vietnam were being sold for as much as 26,000 dong each over the weekend, according to CafeF. This is about 550 dong higher than is permitted through legal channels. For background, Vietnam works on a floating peg by which the dong can be traded at 5 percent with sider of a mid-rate set by the State Bank of Vietnam–the SBV–each day. That rate was 24,256 on Saturday making a top selling price of 25,450.

June 21

  • The State Bank of Vietnam–the SBV–set the exchange rate at 24,256.
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was buying US dollars for 25,248.
  • Vietcombank was selling US dollars for 25,468.
  • Through open market operations the SBV also issued treasury bills in the amount of VND 8,900 billion or US$349,602,680.
  • The State Bank continued selling from its US dollar reserves relinquishing a further US$40 million to keep the dong from devaluing further, according to ACB data. This brings Vietnam’s US dollar sales to just over US$4.9 billion since April.

Of note: The size of the State Bank’s treasury bill issuances have been on the rise. Last week, the bank issued treasury bills to the value of, on average, US$57.7 million a day. This week, however, that average has jumped to just under US$241.2 million after progressively climbing each day this week. It’s also worth noting that the last tranche of bills, issued today, was for only 14 days whereas they are almost always for 28 days.

June 20

  • The State Bank of Vietnam–the SBV–set the exchange rate at 24,255.
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was buying US dollars for 25,247.
  • Vietcombank was selling US dollars for 25,467.
  • Through open market operations the SBV also issued treasury bills in the amount of VND 7,550 billion or US$296,601,750.
  • The State Bank returned to selling from its US dollar reserves relinquishing a further US$480 million to keep the dong from devaluing further, according to ACB data. This brings Vietnam’s US dollar sales to almost US$4.6 billion since April.

June 19

  • The State Bank of Vietnam–the SBV–set the exchange rate at 24,255.
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was buying US dollars for 25,247.
  • Vietcombank was selling US dollars for 25,467.
  • Through open market operations the SBV also issued treasury bills in the amount of VND 6,450 billion or US$253,412,760.

June 18

  • The State Bank of Vietnam–the SBV–set the exchange rate at 24.259.
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was buying US dollars for 25,251.
  • Vietcombank was selling US dollars for 25,471.
  • Through open market operations the SBV also issued treasury bills in the amount of VND 5,150 billion or US$202,337,835.
  • After a seven day break the State Bank of Vietnam has resumed selling US dollars from its reserves. Yesterday it sold US$300 million, according to ACB data. This brings the total sold since April to just over US$4 billion.

June 17

  • The State Bank of Vietnam–the SBV–set the exchange rate at 24,259.
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was buying US dollars for 25,231.
  • Vietcombank was selling US dollars for 25,471.
  • Through open market operations the SBV also issued treasury bills in the amount of VND 2,650 billion or US$104,105,250.

June 14

  • The State Bank of Vietnam–the SBV–set the exchange rate at 24.249.
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was buying US dollars for 25,221.
  • Vietcombank was selling US dollars for 25,461.
  • Through open market operations the SBV also issued treasury bills in the amount of VND 700 billion or US$27,499,500.
  • It also loaned VND 21.32 billion or US$83,743,049 to a single bank.

June 13

  • The State Bank of Vietnam–the SBV–set the exchange rate at 24.245.
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was buying US dollars for 25,217.
  • Vietcombank was selling US dollars for 25,457.
  • Through open market operations the SBV also issued treasury bills in the amount of VND 2,650 billion or US$104,156,395.
  • It also loaned VND 550.7 billion or US$21,644,878 to a single bank.

June 12

  • The State Bank of Vietnam–the SBV–set the exchange rate at 24.254.
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was buying US dollars for 25,226.
  • Vietcombank was selling US dollars for 25,466.
  • Through open market operations the SBV also issued treasury bills in the amount of VND 600 billion or US$23,582,580.

June 11

  • The State Bank of Vietnam–the SBV–set the exchange rate at 24.250.
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was buying US dollars for 25,222.
  • Vietcombank was selling US dollars for 25,462.
  • Through open market operations the SBV also issued treasury bills in the amount of VND 1,300 billion or US$$51,095,590.
  • It also loaned VND 1,530.89 billion or US$60,131,256 to two banks.

June 10

  • The State Bank of Vietnam–the SBV–set the exchange rate at 24.242.
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was buying US dollars for 25,214.
  • Vietcombank was selling US dollars for 25,454.
  • Through open market operations the SBV also issued treasury bills in the amount of VND 2,100 billion or US$82,603,920.
  • It also loaned VND 894.57 billion or US$35,188,090 to one bank.
  • The SBV sold US$309 million US dollars today from its Forex reserves, according to ACB.
  • The SBV has now sold around US$4.1 billion worth of its US dollar reserves since April 19, according to ACB data.

June 7

  • The State Bank of Vietnam–the SBV–set the exchange rate at 24.241.
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was buying US dollars for 25,213.
  • Vietcombank was selling US dollars for 25,453.
  • Through open market operations the SBV also issued treasury bills in the amount of VND 4,900 billion or US$192,837,540.
  • It also loaned VND 748 billion or US$29,445,505 to one bank.

June 6

  • The State Bank of Vietnam–the SBV–set the exchange rate at 24.241.
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was buying US dollars for 25,213.
  • Vietcombank was selling US dollars for 25,453.
  • Through open market operations the SBV also issued treasury bills in the amount of VND 5,800 billion or US$228,099,500.

June 5

  • The State Bank of Vietnam–the SBV–set the exchange rate at 24.241.
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was buying US dollars for 25,213.
  • Vietcombank was selling US dollars for 25,453.
  • Through open market operations the SBV also issued treasury bills in the amount of VND 3,160 billion or US$124,299,232.

June 4

  • The State Bank of Vietnam–the SBV–set the exchange rate at 24,246.
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was buying US dollars for 25,218.
  • Vietcombank was selling US dollars for 25,458.
  • Through open market operations the SBV also issued treasury bills in the amount of VND 6,150 billion or US$241,982,820.

June 3

  • The State Bank of Vietnam–the SBV–set the exchange rate at 24.261.
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was buying US dollars for 25,474.
  • Vietcombank was selling US dollars for 25,234.
  • Through open market operations the SBV lent out VND 473 billion or US$18,597,798.
  • The SBV also issued treasury bills in the amount of VND 8,450 billion or US$332,173,725.

See also: Vietnam Currency News

May 31

  • The State Bank of Vietnam–the SBV–set the exchange rate at 24.261.
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was buying US dollars for 25,254.
  • Vietcombank was selling US dollars for 25,474..
  • The SBV sold US$150 million US dollars today from its Forex reserves, according to ACB.
  • The SBV has now sold around US$3.85 billion worth of its US dollar reserves since April 19.
  • The SBV also issued treasury bills in the amount of VND 16,250 billion or US$$638,508,000.

May 30

  • The State Bank of Vietnam–the SBV–set the exchange rate at 24.258.
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was selling US dollars for 25,470.
  • Vietcombank was buying US dollars for 25,250.
  • The SBV issued treasury bills in the amount of VND 54.9 trillion or US$192,477,880.

May 29

  • The State Bank of Vietnam–the SBV–set the exchange rate at 24,253.
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was selling US dollars for 25,465.
  • Vietcombank was buying US dollars for 25,265.
  • The SBV did not sell any US dollars today from its Forex reserves, according to ACB.
  • The SBV has sold around US$3.7 billion worth of its US dollar reserves since April 19.
  • Through open market operations the SBV lent out VND 3,110 billion or US$122,149,998.
  • The SBV also issued treasury bills in the amount of VND 5,150 billion or US$202,298,180.

May 28

  • The State Bank set the exchange rate at 24,256.
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was selling US dollars for 25,468.
  • Vietcombank was buying US dollars for 25,268.
  • The State Bank sold US$100 million from its Forex reserves, according to ACB.
  • The State Bank has now sold around US$3.7 billion worth of US dollars since April 19.

May 27

  • The State Bank set the exchange rate at 24,268.
  • The maximum one US dollar could be sold for was 25,450.
  • The minimum one US dollar could be bought for was 23,400. 
  • Vietcombank was selling US dollars for 25,481.
  • Vietcombank was buying US dollars for 25,281.
  • The State Bank sold US$300 million from its Forex reserves, according to ACB.

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US logistics, supply chain management firm opens Vietnam office

July 26, 2024

Of note, in 2023 Vietnam’s transportation and storage sector surpassed VND 502.56 trillion or US$19.807 billion, constituting 4.92 percent of the country’s total GDP.  This could represent broad opportunities for foreign firms, however, foreign ownership limits in logistics services can be very restrictive. For example, foreign firms are prohibited from owning more than 34 percent of an airline…

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Vietnam News Roundup: July 19 to July 25

July 25, 2024

This week’s Vietnam news roundup covers foreign trader stock market activity, bad debts, GDP targets, offshore wind developments, a new waste-to-energy plant in HCMC, soft drink market forecasts, and the latest developments in Vietnam’s quest to have its designation as a ‘non-market’ economy revoked by the US Department of Commerce, and more…

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Vietnam bad debt hits 6.9 percent

July 25, 2024

Of note, pursuant to amendments to Circular 39 made in June, loan applications for less than VND 100 million or about US$4,000 no longer need to detail a plan for the borrowed funds. Also back in November and December of last year, to meet annual credit growth targets, Vietnam’s banks embarked on some pretty aggressive lending campaigns that saw credit growth jump considerably but in what looked like mostly consumer loans. It could be that some of these loans are now turning bad…

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