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Economic stability will require serious adjustment

Economic instability across the entire globe is bound to affect Vietnam as well. Although economic data for Vietnam shows that difficulties have been overcome, but the fact remains that scores of businesses are still struggling. 
Reference exchange rate continues to go down

Reference exchange rate continues to go down


The State Bank of Vietnam set the daily reference exchange rate for the US dollar at VND/US$23,660 on December 2, down VND2 from the previous day.
Illustrative image (Photo: SGGP)

Timely action needed to cope with economic uncertainty

Many financial experts are now blaming rising interest rates by central banks across the world and the current geopolitical changes across the globe for the drastic plunge in liquidity in the stock market. 
Real estate credit increases, securities credit declines

Real estate credit increases, securities credit declines

By August 2022, credit for the real estate sector increased by 15.68 percent compared to the end of 2021, while credit for investment and securities trading decreased by 35.07 percent, according to a report by Ms. Nguyen Thi Hong, Governor of the State Bank of Vietnam, to the National Assembly on the results of the implementation of Resolution No.62/2022/QH15 and Resolution No.63/2022/QH15.
Standard Chartered raises Vietnam’s 2022 GDP growth forecast to 7.5 percent

Standard Chartered raises Vietnam’s 2022 GDP growth forecast to 7.5 percent

Standard Chartered Bank has raised its Vietnam GDP growth forecast for 2022 to 7.5 percent from the previous 6.7 percent and for 2023 to 7.2 percent from 7.0 percent to reflect robust Q3 growth of 13.7 percent year-on-year. The last quarter 2022 growth is anticipated at 4.0 percent.
US dollar at commercial banks surges to VND24,200 per dollar

US dollar at commercial banks surges to VND24,200 per dollar

The State Bank of Vietnam today continued to set the exchange rate for the US dollar up VND17 to VND23,497 per US dollar. As of today, the US$/VND exchange rate at commercial banks was up to VND24,200 per one US dollar, nearly reaching the highest rate regulated by State Bank at VND24,202 per US dollar.
The opening session of Smart Banking 2022 forum. (Photo: SGGP)

Digital transformation in banking focuses on convenience, user experience

Vietnam Banks Association and IEC Group yesterday held a forum in Hanoi for digital transformation in banking, themed ‘Banking Industry – Active and Pioneering in Industry 4.0’ (Smart Banking 2022). The forum was chaired by the Central Economic Commission and the State Bank of Vietnam.