Posts Tagged ‘Credit crunch’

A stable Vietnam exchange rate promised in 2012

Posted: February 5, 2012 in Asian Currency Markets, Top Headlines
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VietFinanceNews.com – Industry insiders are expecting a more stable dong-dollar exchange rate and stricter dollar lending in 2012.

In early 2012, State Bank (SBV) governor Nguyen Van Binh confirmed the foreign exchange market would be on an even keel with the dong-dollar exchange rate fluctuating between 2 to 3 per cent in the year.

Binh also forecast a surplus of around $3 billion in the country’s general balance of payments in 2012.

SBV’s Ho Chi Minh City branch deputy director Nguyen Ngoc Thang assumed the city’s foreign currency market was relatively stable with a sharp fall in dollar speculation against some previous years. (more…)

HSBC Forecasts Vietnam GDP to Rise By 5.7% In 2012

Posted: January 20, 2012 in Asian Currency Markets, Top Headlines
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VietFinanceNews.com – Vietnam is forecast to have GDP growth rate of 5.7% in 2012, compared to the government’s target of 6.0-6.5%, HSBC Global Economics Research Team wrote in its Macro Asian Economics Q1/2012.

HSBC Global Research said:

Despite sluggish global growth and challenging domestic conditions, Vietnam’s growth momentum has been impressive. GDP expanded 6.1% y-o-y in 3Q 11 (versus 5.7% in 2Q 11) thanks to robust exports and domestic demand. We expect GDP growth of 5.8% in 2011 and 5.7% in 2012 (the government’s target is 6.0-6.5% for 2012). (more…)

Vietnamese Dong Rises to One-Month High on Inflation Outlook

Posted: January 20, 2012 in Asian Currency Markets, Top Headlines
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VietFinanceNews.com – Vietnam’s dong advanced to its strongest level in a month after the central bank said inflation would slow. Government bonds were steady.

Consumer prices will rise less than 12 percent at worst and about 8.5 percent in a “good” scenario, central bank Governor Nguyen Van Binh said on Jan. 12. Inflation in the $104 billion economy was 18.1 percent in December. The dong will depreciate 2 percent to 3 percent this year, Binh said. That would be the least since 2007, according to data compiled by Bloomberg. (more…)

Fitch rates Vietnam’s debt ‘B+’ with stable outlook

Posted: August 13, 2011 in Asian Currency Markets
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VietFinanceNews.com – International rating agency Fitch has retained Vietnam’s long-term debt rating at ‘B+’ and said this grade would be maintained if the Vietnamese government continues to tighten monetary policy.

Vietnam’s national ratings were also unchanged at B+ and the country’s short-term debt rating in foreign currencies also remained unchanged at B.

(more…)