September 9, 2011
The dong’s chronic weakness has repelled foreign investors and hampered attempts by Vietnam’s policymakers to reverse the faltering fortunes of an economy that only five years ago was one of Asia’s most promising. Until Vietnam rebuilds trust by decisively taming the region’s worst inflation and narrowing sizable trade and budget deficits, the risks of [...]
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July 22, 2011
Vietnam recorded a trade deficit of $200 million or less for the second straight month, after the government devalued the nation’s currency in February by the most since at least 1993 to help reduce the gap. The trade deficit was $200 million in July, up from a revised shortfall of $160 million in June, [...]
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July 21, 2011
Vietnam, which is battling high inflation and other economic problems, has added nearly $4 billion this year to its foreign reserves, a government report on Thursday said. The State Bank of Vietnam will further increase reserves by the end of 2011, the report to the National Assembly by Deputy Prime Minister Nguyen Sinh Hung [...]
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May 16, 2011
Vietnam’s foreign exchange reserves last year dropped 12 percent, ADB said Vietnam, which has kept the precise level of its foreign reserves undisclosed, may publicize the data regularly next year via its national statistics office, VnExpress reported. The General Statistics Office in Hanoi has announced a new national statistical indicator system which has 76 additional [...]
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January 25, 2010
A panel advertising interest rates of 10.49 percent on dong deposits outside a SeABank office in Ho Chi Minh Cityâs District 1. The ongoing liquidity crunch is forcing commercial banks to break the law on interest rates in order to raise enough funds for lending, experts say. They are offering bonus percentage points on deposits [...]
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January 1, 2010
Vietnamâs central bank should re-introduce a rule that would require businesses to sell most of their dollars to banks as part of policies to stabilize the currency market, a government adviser wrote in a report. The central bank should not devalue the Vietnamese dong to support exports, but rather introduce supportive lending and trade promotion, [...]
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September 17, 2009
Vietnamâs central bank may raise interest rates as soon as this year, as inflation begins to accelerate and amid expectations that the nationâs currency will weaken further, Citigroup Inc. said. âThe State Bank of Vietnam will have to start explicitly tightening monetary policy as early as this year,â Johanna Chua, the Hong Kong-based head of [...]
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April 1, 2009
China’s unusually aggressive push last week to replace the US dollar as the top central bank reserve currency was unanticipated, officials said. Asian policymakers are preoccupied with China’s âwar of nervesâ over the US dollar’s global status rather than the impact of the Fed’s debt buying on their vast dollar-linked savings, officials told Reuters. The [...]
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