The State Bank affirms that it will not adjust foreign exchange rates.
On the afternoon of November 18, the State Bank said that in recent days, the exchange rate on the market has increased but is still low, below the exchange rate ceiling according to the State Bank's regulations.
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| Illustration photo: VNA |
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Based on the overall assessment of foreign currency supply and demand and factors in the currency market, the State Bank affirmed that there is no reason to adjust the exchange rate because foreign currency supply and demand remain stable, foreign currency supply is developing positively while there has not been a large demand for foreign currency. In the first 10 months of the year, the country had a trade surplus of 2.36 billion USD, the overall balance of payments surplus was at a high level of over 11 billion USD.
In addition, disbursement of foreign direct investment (FDI) and remittances both increased compared to the same period last year and will continue to develop positively in the coming time, especially at the end of the year.
In addition, in the foreign exchange market, trading turnover and foreign exchange trading activities are normal, without any sudden changes. The credit institution system continues to net buy foreign currency from institutional and individual customers, showing that not only are customers' foreign currency needs fully met, but organizations and individuals also sell foreign currency to credit institutions.
“The State Bank continues to operate exchange rates in a stable direction, synchronously operating monetary policy tools to ensure stability in the monetary and foreign exchange markets, including being ready to sell foreign currency to intervene when necessary,” the State Bank’s statement emphasized.
Over the past two weeks, the exchange rates of commercial banks have continuously increased. Compared to yesterday, the last session on November 18th, the USD price increased by 60 VND/USD, currently listed at 21,360-21,420 VND/USD for buying and selling. However, compared to November 10th, the exchange rate has increased by 100 VND/USD for both buying and selling, the highest level ever./.
According to Vietnam+
