SBV Deputy Governor Dao Minh Tu speaks at the press conference on October 1. (Photo: VNA) Hanoi (VNS/VNA) – The State Bank of Vietnam (SBV)’s exchange rate management policy has been appropriate and effective, creating benefits for the economy and confidence for the market. Speaking at a press conference held in Hanoi on October 1 to review the performance of the banking industry in the third quarter of 2019, SBV Deputy Governor Dao Minh Tu said the assessment was made by members of the National Monetary Policies Council in its recent meeting. While countries worldwide devalued or appreciated their currencies sharply, the SBV had kept the local currency relatively stable, with the management policy based on the overall balance of the economy such as import and export, public debt, balance of payments and current accounts, Tu said. Reports from the SBV showed currently, the foreign exchange rate in the domestic market is relatively stable, increasing and decreasing slightly in comparison with the large fluctuations of currencies around the world. Specifically, on the first two days of this week, the USD Index on the international market increased continuously to reach a two-year record high of 99.2 points. However, in the domestic… Read full this story
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