Dong Dollar

HSBC sees dong lower, SBV vows to bolster it

While the bank says in a report the Vietnamese currency will fall, the central bank chief says the dong has strengthened recently

State Bank plans to increase dong to dollar value

The State Bank of Viet Nam plans to increase the value of the Vietnamese dong against the US dollar over the next four months in a bid to protect the value of the domestic currency, State Bank Governor Nguyen Van Binh told Sai Gon Economic Times this week.

Forex risk mounts on slowing credit growth

HCMC – July’s credit growth of 7.57% over late last year in the banking system has fueled concerns about volatility of the exchange rate towards the year’s end.

Banks hike dollar sale price

HCMC – Commercial banks on Thursday strongly increased their dollar selling price to VND20,700 although the inter-bank forex rate given by the central bank was unchanged at VND20,618.

Dollar deposits at banks on the decline

HCMC – The amount of deposits in foreign currencies, mostly in the U.S. dollar, has fallen substantially as the greenback is losing its appeal given recent policies from the central bank to fight dollarization of the economy. Experts said the trend would continue until a point in time in the near future when banks face the scarcity of the greenback in the coffer.

Dong interest rate to stay high after dollar restrictions

HCMC - Since the central bank issued a circular aiming to limit U.S. dollar borrowing that will be effective from May 9, demand for Vietnam dong credit is expected to increase and the dong lending rate is still likely to get higher in the future.

Paper industry faces forex woes

Paper prices went up in the first quarter of this year due to the depreciation of the dong against the dollar, industry insiders said.

Anti-inflation foods yet to lift prices

Vissan will lift food prices by 15 percent on April 1

Soai Rap River dredging project to go up for bid again

HCMC – The government of HCMC has allowed the Department of Transport to put up a Soai Rap River dredging project for rebid, citing the impact of the volatile exchange rate between the local currency dong and the U.S. dollar.

Vietnam pulls long-awaited devaluation trigger

Vietnam devalued the beleaguered dong by 8.5 percent on Friday

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From Travel

New luxury bus to service City- Phnom Penh

HCM City — An extravagance bus service between HCM City and Phnom Penh has began in HCM City like a private-public co-operation effort to possess more Vietnamese vacationers visit Cambodia.The service was released on Friday through the Cambodian Tourism Ministry and NagaWorld Group."This really is yet another effort to bolster the great relationship between Viet Nam and Cambodia in tourism sector," stated Thong Khon, Cambodia's Tourism Minister.By opening an agent office in HCM City along with a number of

Beaches, wildlife draw vacationers to central coast

by Hoai Nam Rooted in character: Wildlife viewers and outdoorsmen could be satisfied with a half-day tour within the Boy Tra Reserve. — VNA/VNS Photo Van Boy