Pham Tien Dung, deputy head of analysis and investment consultancy at Bao Viet Securities Joint Stock Company. The exchange rate between the Vietnamese dong and the US dollar has kept on rising significantly in recent weeks, which has surprised both investors and analysts in Viet Nam despite the economy’s stable development and historical-high foreign reserves. Viet Nam News reporter Nguyen Hoang Son discusses the issue with Pham Tien Dung, deputy head of analysis and investment consultancy at Bao Viet Securities Joint Stock Company. The exchange rate between the Vietnamese dong and the US dollar has continued to rise in recent weeks. Some say that the VND/USD exchange rate has reached its historical high. What do you think are the reasons for the ongoing increase in the VND/USD exchange rate? The VND/USD daily reference exchange rate set by the State Bank of Viet Nam has been rising since the beginning of 2018, from VND22,415 a dollar on December 31, 2017 to VND22,605 a dollar on May 29, 2018 – equal to a 0.8 per cent increase. This is also the highest level for the daily reference exchange rate since it appeared on January 4, 2016. Meanwhile, exchange rates at local commercial… Read full this story
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