Stable foreign exchange rate expected in 2018Some commercial banks appreciated the US dollar after last week’s interest rate hike by the US Federal Reserve (Fed). After the Fed’s decision, domestic commercial banks also increased their US$/VND exchange rate. He explained that if the exchange rate stabilised, the Dong could be appreciated higher, affecting the competitiveness of Vietnamese exports. The stable exchange rate may also cause domestic firms to prefer imported input material for their production instead of local materials, he said. But the exchange rate stability was sure to bring more benefits, he added.

Source: VietNamNet News March 26, 2018 07:30 UTC