Foreign reserve hits over US$ 42 billion

VGP – The State Bank of Viet Nam (SBV) purchased US$ 1 billion in the first half of 2017, raising the national foreign reserve to more than US$ 42 billion.

July 21, 2017 2:28 PM GMT+7

Illustration photo

SBV Governor Le Minh Hung made the point on July 21 at a conference on settlement of NPLs in combination with credit institution restructuring.

The foreign reserve rise of US$ 1 billion was slow but encouraging as Viet Nam coped with rebounding trade deficit with about US$ 2.7 billion in early 2017.

Governor Minh reported that the liquidity of the market got better and met with demand and supply of foreign currency. The foreign exchange of USD and VND was stable in the first half despite constant interest hikes of the U.S. Federal Reserve.

The SBV will continue to regulate the exchange rate between the dong and the U.S. dollar more flexibly to stabilize the rate and avoid speculation./.

By Kim Loan