Firms with greenback loans see more positive outlook in Q2 2020

Firms with US dollar-denominated debts estimate to regain significantly in the second quarter of this year as the US dollar has devalued against the Vietnamese đồng in the period after reporting a surge in the first quarter.

Banks continue to depreciate the greenback After four sessions of appreciating the US dollar against the Vietnamese đồng, the State Bank of Việt Nam (SBV) adjusted the greenback down on Tuesday, while commercial banks followed the trend.

Foreign currency market eases following central bank’s intervention

The US dollar on Wednesday depreciated against the Vietnamese đồng after the State Bank of Việt Nam (SBV) sold the greenback on the cheap to stabilise the local foreign exchange market.

US dollar demands keep stable in local market The US dollar listed at commercial banks has so far this year gained 1.67 per cent against the Vietnamese đồng due to a rise in the global market, but supply and demand for the greenback in the domestic market has remained stable.

Gold prices down in Việt Nam, up in the world Local gold firms rated their yellow metal down to attract buyers in the market where prices of gold kept falling on Thursday.

Gold prices fall in the market After soaring to an eight-year high yesterday, domestic gold prices fell between VNĐ1.3 million and VNĐ2 million (US$56-86) per tael on February 25.

Global volatilities cause Vietnamese currency to depreciate After a long period of stability, pressure from global markets has caused the Vietnamese đồng to depreciate significantly against the US dollar in the past few days.

Đồng weakened slightly against the US dollar in H1 2019 The Vietnamese đồng has gained some strength against the US dollar in the past month, helped by abundant domestic supply and favourable global conditions.

Vietnamese đồng expected to hover around VNĐ23,200 per dollar in Q2 The Vietnamese đồng will fluctuate around VNĐ23,200 in the next few months thanks to a positive supply source in the local market, according to the National Centre for Socio-Economic Information and Forecast.

Central bank depreciates the greenback against the đồng The SBV on Thursday announced a daily reference exchange rate of VNĐ23,056 per dollar, down VNĐ8 against the previous day