(VOVworld) - The State Bank of Vietnam (SBV) will continue to stabilize the USD/VND exchange rate. SBV Deputy Governor Nguyen Thi Hong told reporters on Wednesday that the US dollar has risen against the Vietnamese dong in recent days following the dollar appreciation on the world market.
She said that, based on analysis and assessment of the macro-economy, monetary factors, and policies of the US Federal Reserve, the bank found that maintaining the current USD/VND exchange rate at the moment is more beneficial than adjusting it.
Hong elaborates: “The Bank will continue to operate foreign exchange rates flexibly following earlier plan. We will use monetary policy tools and other necessary measures to stabilize exchange rates and the foreign exchange market.”
Ms. Hong said there is no need to worry about the supply and demand for foreign currency in Vietnam because there hasn’t been any large fluctuation. The average rate is still below the ceiling set by the central bank and the foreign currency market is still in normal operation.