Borrowing money in foreign currencies, especially in dollars, would still be the attractive choice for the businesses in 2012, analysts say. At a meeting with the press in late 2011, the director of a branch of Eximbank in the south, said that the number of clients who are the businesses borrowing capital from the bank branch has been increasing rapidly. The increases have been attributed to the launching... 

Overseas remittances are a precious financial resource for Vietnam, but there should be attractive policies to attract this resource for economic development Over the past two years, Bui Van Quang, a Vietnamese mechanic working in South Korea, has sent an average US$15,000 annually to his family in the rural area of the northern province of Hai Duong. The sum has been used to repay debt, buy a piece... 

The dollar price has unexpectedly decreased in the last week, while commercial banks have affirmed that they now can easily buy dollars from businesses and the public. Thoi bao Kinh te Saigon has reported that the dollar price applied by the exchange shops on the Ben Thanh market area has been staying at 21,200 dong per dollar, a decrease of 200 dong per dollar over the last week. The owner of a foreign... 

The U.S. dollar on the unofficial market has declined in recent weeks, with the price standing at VND21,200 per dollar at gold shops near Ben Thanh Market in downtown HCMC late last week, down by VND200 against the previous week. The owner of a shop on Phan Chu Trinh Street in the city’s District 1 said money changers around Ben Thanh Market reported a strong fall in dollar buying demand. Meanwhile,... 

Despite achievements in curbing inflation and macro-economic stabilization, the Vietnamese monetary market last year still remained unstable. On February 11, 2011, the State Bank of Vietnam increased the dollar exchange rate from VND18,923 a dollar to VND20,693 a dollar, meaning the dong was devalued by 9.3 percent against the greenback. The unofficial market then experienced a strong fluctuation,... 

The pressure on the foreign exchange rate remained strong and has tended to increase further lately, according to a research report of the National Assembly (NA) Economic Committee. The report conducted by a team headed by Chairman Nguyen Van Giau of the economic committee gave comments on the trend of Vietnam dong depreciating against the U.S. dollar in the upcoming time, including early 2012. The... 

The State Bank of Vietnam on Wednesday revised up the inter-bank foreign exchange rate by another VND10 to VND20,813 to the dollar, prompting commercial banks to quickly raise the trading rate to the cap of VND21,021. The adjustment of the inter-bank rate, which has stayed put for over one month, pushed the greenback up by 0.9% against the local currency compared to early September when the central... 

The current performance of the foreign currency market shows that the State bank of Vietnam is trying everything it can so as to fulfill its commitment not to adjust the dong/dollar exchange rate by more than one percent until the end of the year. Several months ago, the State Bank of Vietnam reassured the public when announcing that the dong would not lose more than one percent of its value by... 

The weakening of the Euro will not have big influences to Vietnam’s macro economy, because the number of transactions remains modest. However, Euro holders will surely incur loss when the currency depreciates. The public debt crisis in Europe has been threatening the Euro. How will the fate of the currency affect Vietnamese import-export enterprises? Ups and downs In fact, the dong/euro exchange... 

The World Bank (WB) has estimated that the volume of remittances sent home by overseas Vietnamese will reach nearly $9 billion in 2011, slightly higher than the figure last year. This sum places Vietnam among top ten countries receiving the largest amount of remittances. The others include India, the Philippines, China, Mexico, Pakistan, Bangladesh, Nigeria, Egypt and Lebanon. According to the WB,...