Vietnam’s foreign exchange reserves reached a record of 35 billion USD

Avatar of Nick John By Nick John Dec22,2023 #exchange #Vietnam
Vietnam's foreign exchange reserves reached a record of 35 billion USD 1
Vietnam's foreign exchange reserves reached a record of 35 billion USD 1

The above information was given by State Bank Governor Nguyen Van Binh at the dialogue between the Prime Minister and businesses on April 28.

Governor Nguyen Van Binh said foreign exchange reserves reached 35 billion USD, the highest ever.

This is the first time a representative of the State Bank has officially announced the current foreign exchange reserve balance.

At the end of October last year, in an updated report, ANZ Bank quoted an estimate of Vietnam’s foreign exchange reserves at about 32 billion USD.

In early 2014, the Governor revealed that the exchange rate would continue to be stable, if the maximum adjustment was no more than 2%.

At this dialogue with businesses, Governor Nguyen Van Binh also took turns answering questions related to interest rates for small and medium-sized businesses.

Representatives of the Association of Small and Medium Enterprises still believe that interest rates, although reduced, are still high compared to their ability.

At the press conference last week, the State Bank said that currently 16% of the outstanding debt of the entire economy is subject to interest rates of 13-15%.

The second group that also has to bear high interest rates is real estate businesses.

However, the Governor still promised to try to reduce interest rates by 1-2% from now until the end of the year to support businesses if favorable conditions arise.

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