The dong will average VNĐ23,440 per dollar over 2019, which represents a 1.8 per cent depreciation from the average of 2018. No huge pressure on exchange in 2019: experts Macroeconomic indexes support VND: experts VN Central Bank increases reference exchange rate, foreign-exchange reserves The Vietnamese dong would remain stable against the US dollar in the near future, supported by the country’s robust foreign direct investment (FDI), a healthy current account surplus, and by the central bank’s active intervention, experts forecast. According to analysts from the Fitch Group’s Fitch Solutions Macro Research, the dong will weaken slightly against the dollar to VND23,700 by the end of the year, and average VND23,440 per dollar over 2019, which represents a 1.8 per cent depreciation from the average of 2018. Analysts attributed the modest weakness expectation to three reasons. First, they said, Viet Nam’s FDI will likely remain robust over 2019, adding Fitch continued to project the Vietnamese economy to be a regional outperformer with a growth of 6.5 per cent in 2019 compared to an aggregate of 6.1 per cent for Asia. “We believe that FDI inﬂows into the manufacturing sector will be further supported by improved diplomatic relationships combined with the Government’s… Read full this story
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