With declining interest rates and loosened monetary policy, investors expected that the Vietnam’s stock market will prosper in the last quarter of this year and might prolong to the first quarter of next year.
The State Bank of Vietnam (SBV) set the daily reference exchange rate at 2 VND3,135 per USD on September 17, up VND5 from the previous day (September 16).
According to the State Bank of Vietnam – Ho Chi Minh City Branch, overseas remittances to the city were estimated to reach US$3.45 billion in the first eight months of this year and are expected to exceed $5 billion this year.
The State Bank of Vietnam on September 3 listed the reference exchange rate at VND23,139 per dollar, an increase of VND6 per dollar over the last weekend, the highest level since the beginning of this year.
Credit institutions have spent over VND357 billion (US$ over 15 million) to subsidize pig breeding farm owners who lost their animals amid outbreak of African Swine Fever (ASF), a representative from the State Bank of Vietnam said at a yesterday press brief .
In the first two months of this year, the exchange rates at commercial banks have not seen much fluctuation but reference exchange rate has been continuously adjusted by the State Bank of Vietnam (SBV).
A majority of credit institutions in the country expect an upward trend in their business in 2019 after gaining good results last year, according to a State Bank of Vietnam (SBV) survey released recently.
