foreign currency

Laos raises excise tax to limit outflow of foreign currency

October 13, 2023 | 15:25

Lao President Thongloun Sisoulith has issued a decree that imposes higher excise tax on certain goods, aimed at curbing the import of luxury items in a bid to reduce the outflow of foreign currency.

VIB provides innovative foreign currency services

August 23, 2023 | 14:49

VIB has been recognised by Global Business Outlook for its innovation in creating unique value with its foreign currency services for individual customers.

Favourable balance declared in foreign currency

April 25, 2023 | 09:00

The interbank USD/VND exchange rate is expected to stabilise in the current quarter, according to forecasts.

Currency sell-off bolsters VND status

October 12, 2022 | 14:17

Selling foreign currency reserves in nominal terms will help calm the forex market in the face of volatile market swings driven by sentiment, say analysts.

Upgrading Vietnam's GDP forecast for 2022 to 8.2 per cent

October 05, 2022 | 16:26

Against fluctuations in the global political and economic situation, UOB raised the full-year GDP growth forecast for Vietnam to 8.2 per cent.

Channels opening up to mobilise long-term capital

November 26, 2021 | 10:00

Government bonds may be a good measure to mobilise funds for the economic recovery plan. However, businesses may find it difficult to borrow capital in foreign currency from banks.

Faith abounds in growth prospects

December 31, 2020 | 15:00

Despite a decline in state budget revenue, remittances, and foreign direct investment, Vietnam is expected to see positive growth with a surplus in current account this year thanks to a rise in export turnover and foreign currency reserves.

Banking sector performance in 2019 and tasks for 2020

January 04, 2020 | 12:06

The central bank did a smart job of controlling the money supply and the interest rate while driving inflation to the lowest level in three years.

Foreign currency lending abolished – impact on enterprises

July 19, 2019 | 14:47

Enterprises can borrow money in Vietnamese dong (VND) and then purchase foreign currency for payment when they need the capital to import input materials, say commercial banks.

Foreign currency lending extended into 2019

January 03, 2019 | 10:40

The State Bank of Vietnam (SBV) has issued a circular to allow credit institutions and foreign bank branches to extend loans in foreign currencies to some borrowers in 2019, rather than cutting them off at the end of last year as planned.

SBV requests control on foreign currency loans

August 14, 2018 | 21:17

Governor of the State Bank of Viet Nam (SBV) Le Minh Hung has recently directed the entire banking industry to strictly control foreign currency lending to better minimise dollar speculation and fight against dollarisation in the economy.

Exchange rates to follow market rules

February 25, 2013 | 09:05

State Bank of Vietnam (SBV) Governor Nguyen Van Binh has said exchange rates in 2013 will be adjusted in accordance with market practices.

Stable forex market tipped

January 08, 2013 | 15:47

The forex market last year enjoyed a sense of stability due to economic factors that are expected to continue in 2013.

Vietnam’s coffee exports jump to a new record

November 12, 2012 | 11:00

Vietnam’s booming coffee exports have hit a new record value of $3.3 billion for the 2011/2012 crop, confirming the country’s standing as the world’s second biggest coffee exporter after Brazil.