BizLIVE - From the start of this year, the Vietnamese central bank has purchased over $4 billion in foreign currency.
Vietnam’s Forex Reserves Top $57 Billion
Vietnam's forex reserves have hit new highs recently.
Vietnam’s foreign exchange reserves have been on the rise since last year, surpassing an all-time high of $57 billion as of February 6, 2018, the Saigon Times quoted the State Bank of Vietnam (SBV) as saying.
From the start of this year, the Vietnamese central bank has purchased over $4 billion in foreign currency, after buying in $13 billion last year thanks to abundant supply.
SBV Governor Le Minh Hung said on January 12 that the bank’s reserve fund had hit a fresh record high of $54.5 billion. It means that the bank has bought in $2.5 billion over the past three weeks.
“The new record helps to strengthen confidence of businesses and the whole economy, as well as cement confidence of foreign investors,” Hung said.
Saigon Times quoted Hung as saying recently that the country’s forex reserves could soon touch $60 billion at this pace.

TUAN MINH