Topic: stable

Much has been done in 2024 to ensure the VND/USD exchange rate remains stable and the task will continue into the new year.

As of the end of July, the USD/VND exchange rate had increased 2.4 per cent since the beginning of the year. Analysts believe the exchange rate has returned to stability after the State Bank of Vietnam’s strong intervention in selling about $13 billion, or 11 per cent of the country’s foreign exchange reserves. There are four factors that will help the VND resist the strong pressure from the USD.