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Vietnam’s Central Bank Says It’s Able to Keep Currency Stable

By | Bloomberg | No Comments

Vietnam’s central bank said record-high foreign reserves will enable it to keep the currency stable for the rest of the year as the government focuses on boosting growth in the Southeast Asian economy.

With reserve levels at $45 billion, “we are confident that we will be able to maintain the dong’s value,” in 2017, Nguyen Thi Hong, deputy governor of State Bank of Vietnam, said on the sidelines of a meeting in Hoi An on Saturday. “Such a high level of foreign reserves will allow us to step in to stabilize the money market when needed.”

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