Now is right time for Vietnam c.bank to increase forex reserves: Expert
Vietnam trading activities would benefit from a stable exchange market, which is the central bank's target to buy in foreign currency, said banking expert Nguyen Tri Hieu.
Vietnam trading activities would benefit from a stable exchange market, which is the central bank's target to buy in foreign currency, said banking expert Nguyen Tri Hieu.
This resulted in more than VND46 trillion (US$2 billion) being pumped into the economy.
With fewer concerns about currency and external stability, Vietnam’s central bank is likely to be more comfortable with delivering interest rate cuts to support growth.
Vietnam's continued trade surplus helps strengthen its forex position.
There has been a positive shift in the credit structure that provides strong support to economic growth, with a major part of outstanding loans channeled to priority fields.
Compared to the end of 2016, Vietnam’s foreign exchange reserve to date has doubled.