The State Bank of Vietnam (SBV) will not adjust the Vietnamese dong-US dollar exchange rate despite an increase in the price of USD on the world market, SBV Deputy Governor Nguyen Thi Hong said to the Vietnam News Agency on March 25.
The State Bank of Vietnam (SBV) will not adjust the Vietnamese dong-USdollar exchange rate despite an increase in the price of USD on theworld market, SBV Deputy Governor Nguyen Thi Hong said to the VietnamNews Agency on March 25.
The decision was made after thorough considerations of import-export and foreign debt, she stated.
She added that based on the domestic and international currency andmacro-economic developments, maintaining the current exchange rate willbe more profitable than adjusting the rate.
According to her, the foreign exchange market in Vietnam remains stablewith transactions worth around 1.1-1.2 billion USD per day.
On the afternoon of March 25, the exchange rate remained below 21,500VND to 1 USD, well below the ceiling rate of 21,673 VND as regulated bythe SBV.
The central bank pledged to continueregulating monetary policy tools and implementing other necessarymeasures to stabilise the foreign exchange market.-VNA
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