Business
The State Bank says to maintain the foreign exchange rate
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.
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The State Bank pledged to continue regulating monetary policy tools and implementing other necessary measures to stabilise the foreign exchange market.
