The State Bank of Vietnam (SBV) on May 13 dismissed rumours that it would devalue Vietnam dong (VND) by 4 percent against the US dollar (USD).
The SBV said that the rumours are wrong, unfounded and aimed at causing worries on the market.
Vietnam’s foreign exchange market has been stabilised since late March with an abundant supply of foreign currencies, said the SBV, affirming that the country’s banking system has met people’s and businesses’ demand for foreign currencies.
Credit institutions have enough dollars to sell to their customers and even to the State Bank, according to the SBV.
It added that it had bought more than US$1 billion for reserves from the credit institutions since mid-April.
The SBV pledged to keep stable the foreign exchange rate.
Vietnam’s foreign exchange market has been stabilised since late March with an abundant supply of foreign currencies, said the SBV, affirming that the country’s banking system has met people’s and businesses’ demand for foreign currencies.
Credit institutions have enough dollars to sell to their customers and even to the State Bank, according to the SBV.
It added that it had bought more than US$1 billion for reserves from the credit institutions since mid-April.
The SBV pledged to keep stable the foreign exchange rate.
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