(VOVworld) – Nguyen Thi Hong, Deputy Governor of the State Bank of Vietnam, SBV, said the State Bank will not adjust the foreign exchange rate and will apply all necessary measures to stabilize the exchange rate until the end of this year and early next year.

The State Bank of Vietnam pledges to stabilize the exchange rate and forex market until the end of this year and early next year.

Mrs. Hong said the SBV had anticipated China's devaluation of the yuan and the possible interest rate hike of the US Federal Reserve. She said the recent adjustment is “flexible enough to meet the market development”, while it has also “given the Vietnamese dong a competitive edge”.