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| NEWS - EVENTS |
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Devalued dong stabilises forex market
- 25/02/2010
The State Bank of Viet Nam\'s surprise move in the final days before the Tet (lunar New Year) holidays to devalue the dong by another 3.3 per cent has had a positive effect in narrowing the gap between official and black market exchange rates.
"The new exchange rate and limits on US dollar deposit rates have discouraged enterprises to hold the dollar".
Yesterday, February 24, the interbank exchange rate was VND18,544 per US dollar, while commercial banks were selling dollars at about...
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Exporters starting to sell dollars to bank
- 24/02/2010
Following the decision on adjusting the dong/dollar exchange rate which took effect on February 11, 2010, export companies have begun selling dollar to banks, but it is still too early to say how it has affected the market.
The decision by the State Bank of Vietnam to adjust the dong/dollar exchange rate has led to changes in the exchange rates quoted by commercial banks. On February 23, commercial banks all quoted the same sale price at the ceiling level of 19,100...
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Hanoi, HCM City’s CPIs rise in February
- 24/02/2010
The consumer price index (CPI) rose in both Ho Chi Minh City and Hanoi in February.
HCM City ’s CPI increased by 1.68 percent against January and 9.45 percent compared to the same period last year, said the municipal Statistics Office.
Highest price increases were seen in culture-entertainment-tourism (3 percent) and food (2.66 percent) due to the celebration of the Lunar New Year Festival (Tet). The price of pork rose 2.41 percent; beef, 2.65 percent; poultry, 3.51 percent; and vegetables, 5.93 percent.
Slight...
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Good performance encourages retailers
- 24/02/2010
Market research shows that Vietnam’s retail turnover rose by 18.6% last year, an encouraging improvement as many retail markets in the world recorded negative growth. According to the Vietnam Retail Association, retail revenues recorded almost VND1,200 trillion (US$64.8 billion) in 2009 and are expected to reach VND1,440 trillion (US$77.8 billion) this year.
The figures are of great significance as the world’s major markets, including the U.S., Japan, South Korea and the European Union, saw minus growth rates.
This is why many local...
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