Posts Tagged ‘ The Exchange Rates ’

Banks lacking dollars, convincing businesses to use other currencies

July 27, 2009
Banks lacking dollars, convincing businesses to use other currencies

As commercial banks now do not have dollars to sell to import companies, they have advised the companies to make payments in other currencies. The State Bank of Vietnam has strictly prohibited commercial banks from collecting additional fees on dollar sales, by which method they were selling dollars at higher than allowed price levels. Meanwhile, [...]

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Dollar appreciation burdening both exporters and importers

April 7, 2009
Dollar appreciation burdening both exporters and importers

LookAtVietnam – The widening of the dollar trading band, which was thought would depreciate the VND and help export companies, has had quite a different effect. Import companies have been experiencing more and more difficulties. Automobile import companies had not yet recovered from the VND/US$ exchange rate increases when the luxury tax law became effective [...]

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Dollar price down, supply-demand in balance again

April 3, 2009
Dollar price down, supply-demand in balance again

The VND/US$ exchange rate in the interbank market has been decreasing in the last few days, while the rate in the black market also decreased on April 2. The VND/US$ exchange rate in the black market in Hanoi on April 2 afternoon unexpectedly dropped to VND17,800-17,830/US$1 (purchase and sale), down by VND10/US$1 over the morning, [...]

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Oversupply, short demand forcing US$ interest rates down

March 2, 2009
Oversupply, short demand forcing US$ interest rates down

Commercial banks have slashed US$ deposit and lending interest rates as the demand has become weaker. While commercial banks’ US$ capital has become more profuse after a period of intense mobilizing from the public, the demand for US$ loans has become weaker as businesses prefer borrowing VND loans under the 4% interest rate subsidy program. Besides, [...]

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Feature

Vietnam, Cuba foreign ministries to bolster ties

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Vietnam’s top diplomat has affirmed that the Foreign Ministry will closely cooperate with its Cuban counterpart to implement the agreements reached by the two...