MoF & SBV cooperate in foreign exchange management

The Ministry of Finance (MoF) and the State Bank of Vietnam (SBV) signed a regulation on March 9 on a mechanism for buying and selling foreign currencies between the State budget and foreign exchange reserves, in order to balance foreign currencies for the State budget. Vietnam currently posts a trade surplus and has record-high foreign exchange reserves. According to the BIDV Securities Company (BSC), the country’s foreign exchange reserves stood at $105 billion at the end of 2021. It has also forecast that foreign exchange reserves will remain abundant this year.