The selling price of USD at the State Bank of Vietnam (SBV) and commercial banks is still much lower than the ceiling, despite inflation rising in the US and major currencies depreciating against the dollar. According to analysts, while the US Fed is set to raise interest rates, demand for foreign currency in Vietnam has not shown any strong increase.
Analysts at the Vietnam Socio-Economic Forum 2022 on September 17 said that although the country’s eight-month CPI is relatively low, fluctuations have been significant and inflationary pressure and risks are increasing. Vietnam’s M2 money supply growth and M2 / GDP ratio are quite high compared to other countries in the region.