#currency

The recent sharp depreciation of the Euro, the single currency used by the EU, amidst growing fears of a recession in the Eurozone, is expected to have a negative impact on Vietnamese import-export activities.

Vietnam is one of 12 economies that have been placed on the US' currency monitoring list, according to the US Department of the Treasury’s semiannual Report to Congress on Macroeconomic and Foreign Exchange Policies of Major Trading Partners

The Government will have to decide either to devalue the Vietnamese dong further against the US dollar to support exports and avoid cheaper Chinese goods to flood in the local market, or keep the dollar/dong exchange rate stable to avoid increased public debt and control inflation as the US-China trade war accelerates.

Fruit and vegetables have surpassed traditional farm produce such as rice, rubber, tea, and cashew nuts to become a major foreign currency earner in the agricultural sector.

The central banks of Thailand and Indonesia have signed a memorandum of understanding on the promotion of the use of their local currencies, bath and rupiah, for bilateral trade.

PSNews-Nguyen Xuan Long has posted wrong information on a Facebook page called “Vit Bau” with the aim of causing social anxieties and economic uncertainty, leading to political instability in Vietnam.