Vietnam’s forex reserves hit record high
(VOVWORLD) -Vietnam’s foreign currency reserves reached an approximate 48 billion USD due to the country’s stable macroeconomic conditions and a strong influx of exports, foreign direct investment (FDI) and remittance, according to the State Bank of Vietnam.
 (Source: VNA) |
Notably, the USD/VND rate has undergone little change, although the US Federal Reserve has raised its benchmark interest rates by 0.25 percentage points for the third time. Experts attributed stability to a flexible rate management mechanism and the Government’s policy of encouraging locals to convert forex holdings into VND. Vietnam has recorded trade surplus of more than 2.7 billion USD so far this year.