The sufficient foreign reserves have been a key source to help the central bank stabilise the USD/VNĐ exchange rate.
The State Bank of Việt Nam (SBV) will tweak monetary policy this year to help achieve the targets set by the Government and National Assembly.
Việt Nam’s foreign reserves has increased by 130 per cent to nearly US$64 billion in the past two-and-a-half years, Prime Minister Nguyễn Xuân Phúc said.
Fitch Ratings has upgraded Việt Nam’s sovereign rating based on the country’s rising foreign exchange reserves and strong economic growth.
Domestic commercial banks on Thursday continued devaluing the US dollar against the Vietnamese đồng for the second consecutive session, despite a rise of the greenback in the global market.
The State Bank of Việt Nam has set its sights on 17 per cent credit growth this year, slightly down from 18.17 per cent last year.
Prime Minister Nguyễn Xuân Phúc yesterday required the State Bank of Việt Nam (SBV) to enhance inspection and supervision to ensure the safety of the banking system and increase the confidence of people in the system in 2018.
Việt Nam’s foreign reserves have hit a record high of US$40 billion, according to a source from the State Bank of Việt Nam (SBV).