Hanoi (VNA) – Amid the fluctuation of the worldwide
monetary market, the change price in Vietnam has remained secure within the first
4 months of this yr, and the Vietnam dong has been thought of probably the most secure
currencies in Asia, in keeping with specialists.
Market evaluation experiences launched by Mirae Asset Securities Vietnam
confirmed that in April, the USD/VND change price dropped 0.2% and the common change price hovered round 23,500 VND/USD throughout the month. The speed has remained secure all through the January-April interval.
The United Abroad Financial institution (UOB) rated the Vietnam dong as probably the most secure currencies in Asia, regardless of important modifications within the Fed’s rate of interest hike expectations in addition to considerations a few world recession and instability of the US banking system.
Dao Xuan Tuan, head of the Overseas Alternate Administration
Division underneath the State Financial institution of Vietnam (SBV) mentioned that for the reason that finish of
2022, the overseas change market has developed positively and steadily turn into secure. The
USD/VND change price tends to lower and stabilise once more, he mentioned, including that
the restoration of the Vietnamese forex towards the US greenback since December 2022 was much like that of many
different currencies within the area such because the Japanese yen, Chinese language yuan, the received of the Republic Korea and the Thai baht.
Tuan mentioned that the rise of overseas forex provide
enabled the SBV to purchase extra foreign currency for the overseas change reserves.
Within the first 4 months of this yr, the SBV purchased almost
4.9 billion USD from credit score establishments, up about 1 billion USD from the
quantity recorded on the finish of the primary quarter of 2023.
Consultants from VNDirect forecast that Vietnam’s overseas
change reserves will get better to succeed in 102 billion USD by the tip of this yr./.