Vietnamese dong

US: Switzerland, Vietnam Manipulating Currencies

The United States (US) Treasury on Wednesday accused Switzerland and Vietnam of manipulating their currencies, partly to gain a trade advantage over American exports.In the semi-annual foreign exchange report, the US Treasury found the two countries were intervening in currency markets to affect balance of payments, and in the case of Vietnam, also aiming at "gaining unfair competitive advantage in international trade."US Treasury Secretary Steven Mnuchin called the decision "a

19 December 2020
0

From gold to credit cards in Vietnam

Vietnam may be one of the world’s fastest-growing economies, yet it’s still in the dark ages when it comes to joining the global trend toward cashless transactions. To understand why, look no further than to consumers like Tran Van Nhan, who recently bought his two-bedroom home in Hanoi with gold and a sack of cash.“We paid almost half in gold bars and the rest in cash,” Nhan, a 47-year-old shopkeeper, said of his new US$138,000 condo.

28 May 2019
0

Warburg-backed bank sets new record in $922 million Vietnam IPO

Techcombank, the Vietnamese lender backed by Warburg Pincus, is setting a fresh record with its initial public offering.The bank and some existing investors are set to raise about 21 trillion dong ($922 million) in the deal, which would become the country’s biggest-ever initial equity offering, people with knowledge of the matter said Monday.

24 April 2018
0

Vietnam's central bank confident of keeping currency stable

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 dollars, “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.

23 October 2017
0