Foreign reserves at record high in Vietnam

XINUA, HANOI: Vietnam’s foreign reserves has now hit an all-time record high of 53 billion US dollars, according to the country’s central bank yesterday.

The reserves rose by nearly 11 billion dollars from mid-2017 and by roughly 12 billion dollars from late last year. The State Bank of Vietnam, the central bank, well managed the country’s foreign exchange market, keeping exchange rates fairly stable and the reserves at high levels.

The central exchange rate in late 2017 increased around 1.6 per cent against early 2017, while the average rate offered by commercial banks dropped 0.2 per cent, and that on the free market declined some 1.5 per cent, according to Vietnam’s National Financial Supervisory Commission.

Vietnam made export turnovers of nearly 213.8 billion US dollars in 2017, increasing 21.1 per cent against 2016, and enjoying a trade surplus of 2.7 billion US dollars, said its General Statistics Office.

 

Foreign reserves at record high in Vietnam

XINUA, HANOI: Vietnams foreign reserves has now hit an all-time record high of 53 billion US dollars, according to the countrys central bank yesterday. The reserves rose by nearly 11 billion dollars from mid-2017 and by roughly 12 billion dollars from late last year. The State Bank of Vietnam, the central bank, well managed the countrys foreign exchange market, keeping exchange rates fairly stable and the reserves at high levels. The central exchange rate in late 2017 increased around 1.6 per cent against early 2017, while the average rate offered by commercial banks dropped 0.2 per cent, and that on the free market declined some 1.5 per cent, according to Vietnams National Financial Supervisory Commission. Vietnam made export turnovers of nearly 213.8 billion US dollars in 2017, increasing 21.1 per cent against 2016, and enjoying a trade surplus of 2.7 billion US dollars, said its General Statistics Office.