VN’s foreign reserves exceed US$63.5 bln

VGP – Viet Nam 's foreign reserves increased to more than US$63.5 billion, said Governor of the State Bank of Viet Nam (SBV) Le Minh Hung at the Government's outreach meeting on Monday.

July 03, 2018 5:09 PM GMT+7

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Mr. Hung said that the Government and the SBV’s measures have helped strengthen trust in the Vietnamese Dong and stabilize the foreign currency market and exchange rates.

The SBV is willing to take neccessary moves to stabilize foreign currency supply and demand to ensure stable macroeconomy.

If necessary, the SBV will sell foreign currencies lower than the listed prices to stabilize the market, said Pham Thanh Ha, Head of the SBV Monetary Policy Department.

Ha added that the USD interest rate in the interbank market rose in line with the world trend, while the VND interest rate remained low, resulting in a minus difference in VND-USD interest rate.

Ha affirmed that the SBV will continue monitoring domestic and world markets, with consideration of the roadmap and impacts of the increase in interest rate of the US Federal Reserve Bank and its impacts, as well as US-China relations, moves of Eropean Central Banks and Japan’s central bank and domestic foreign currency supply./.

By Thuy Dung