At a meeting on March 25, Deputy Governor of the State Bank Nguyen Thi Hong confirmed that the State Bank will not adjust the Vietnamese dong-US dollar exchange rate despite an increase in the price of USD on the world market.
The Deputy Governor said that based on the domestic and international currency and macro-economic developments, maintaining the current exchange rate will be more profitable than adjusting the rate.
The decision was made after thorough considerations of import-export and foreign debt, she stated.
She added that the foreign exchange market in Vietnam remains stable with transactions worth around 1.1-1.2 billion USD per day.
On the afternoon of March 25, the exchange rate remained below 21,500 VND to 1 USD, well below the ceiling rate of 21,673 VND as regulated by the State Bank.
The State Bank pledged to continue regulating monetary policy tools and implementing other necessary measures to stabilise the foreign exchange market.
The decision was made after thorough considerations of import-export and foreign debt, she stated.
She added that the foreign exchange market in Vietnam remains stable with transactions worth around 1.1-1.2 billion USD per day.
Illustrative image
|
The State Bank pledged to continue regulating monetary policy tools and implementing other necessary measures to stabilise the foreign exchange market.
Other News
- PM urges Central bank to ensure positive growth in 2024
- Vietnamese Gov't to continue VAT cut for second half of 2024
- 3,400 taels of gold purchased at the first-in-11-year auction
- HoSE to launch KRX-developed transaction system in early May
- Central bank moves gold auction to tomorrow
- Vietnam’s c.bank sells USD to stabilize exchange rate
- Central bank to auction gold to calm domestic market
- Vietnam's Central Bank ready to steady foreign exchange market
- Finance ministry clears bottlenecks to pave way for stock market upgrade
- Over 60% of Vietnamese use QR codes to pay
Trending
-
Golden milestone in history: Dien Bien Phu Victory
-
Vietnam news in brief - May 7
-
Vietnam vows to pursue sustainability over costly, rapid growth
-
Private investors: Key to build more parking lots in Hanoi
-
PM urges Cambodian cooperation to promote sustainable use of Mekong River
-
Vietnam seeks more information on Cambodia’s Funan Techo canal project
-
Hanoi: The 'epic victory' of Dien Bien Phu as seen in photos
-
Hanoi strives to ensure smooth high school exams
-
Carnaval Ha Long 2024 woos tourists with fireworks and drone light shows