FED interest rate hike not hit VN’s market much (23/12)
23/12/2015 - 17 Lượt xem
The central bank said the decision was made to continue implementing concerted measures to increase the value of Vietnam dong and ‘avoid dollar hoarding’.
Earlier on December 17, the US Federal Reserve (FED) decided to raise interest rates by 0.25 percentage points, which, however, has not prompted the State Bank of Viet Nam to change its policy on stabilising foreign exchange rates.
As of 8:20 am, Vietcombank quoted the selling price of USD at 22,547 VND and the buying price at 22,517 VND, the same rates as BIDV. Meanwhile, Eximbank kept its buying and selling rates steady at 22,497-22,547 VND per one USD.
The Deputy SBV Governor said that the rising exchange rates in the domestic market over past days are due to the psychological factors following FED interest rate hike to 0.25% and falling yuan.
The demand and supply of foreign currencies are positive, said Ms. Hong.
Viet Nam ran a trade surplus of US$500 million in October and was projected to enjoy another sum of around US$260 million in November. FDI disbursement was over 17% higher than the same period last year. The inflow of overseas remittances was on the rise.
The Deputy SBV Governor also underscored that the FED interest rate hike would not strongly affect the domestic market as the foreign indirect investment inflows (in the short term) accounts for a small percentage of total capital inflows into Viet Nam. Thus the interest rate hike would not cause severe impacts on capital inflows. In addition, the move also demonstrated the expectation for higher USD since the beginning of the year./.
Source: Chinhphu.vn
