SBV Governor: Banks Get Profuse Dollar Sources, US$8M FII Enters Vietnam Daily

The dollar “fever” on unofficial markets in Vietnam has eased over the past days after local banks were allowed to buy dollars easily from companies and individuals and thanks to the US$7 million-US$8 million of foreign indirect investments (FII) pouring into the country each day, according to SBV Governor Nguyen Van Giau.

 

“A great amount of dollars was sold in recent days after the SBV took measures to stabilize the forex rates,” Giau noted.

 

And now the dollar supply is abundant, and local banks can buy easily, Giau said, estimating that on the inter-bank market on August 10, commercial banks bought a net value of US$71 million.

 

The FII inflows estimated between US$7 million and US$8 million were pouring into Vietnam each day, Giau added.

 

The country’s target of having a trade deficit below US$10 billion will be reachable this year, Giau said optimistically. (vnexpress.net)