Rate: If you do not adjust more than 2%

 Governor Nguyen Van Binh said, adjusting the ceiling deposit rate of exchange will definitely happen, but how many doses are left to consider.


    Rate of increase recently thought to be a temporary phenomenon and the forex market is highly price stability. However, with little difference between the interest rate and foreign currency at present, not least the idea that, to consider further reducing interest rates adjusted dollars to save people not to see the benefits of holding foreign currencies .

 

                                The demand for foreign currency in the past 2 months is not large


    CitiBank Vietnam General Director, Mr Brett Krause said that the achievements of the past 18 months to fight dollarization of the economy is stable exchange rate and the foreign exchange market was relatively stable. However, with the volatility of the exchange rate in the past two months, the State Bank of Vietnam (SBV) should also be clear about the message-oriented exchange rate management to eliminate the state due to the rate increase.


    Mr Brett Krause, the gap between the interest rate on dollar deposits and USD component is created for exchange rate stability in the past 18 months. However, interest rates are gradually declining USD also contributed to pressure on the exchange rate, because people will switch from USD to USD if the interest rates continue to fall.


    In order to stabilize the exchange rate and the foreign exchange market, Mr Brett Krause recommendations, the central bank should consider lowering interest rates and possibly down to 0% instead of 2% / year today.


    Tran Phuong Binh, General Director of EAB concurred with recommendations to reduce exchange rate against dollar status and limitations of the people turn from USD to USD to VND interest rates down. However, according to Mr. Binh, although the exchange rate down, but people still want to hoard dollars.


    "People have money to buy foreign currency bank deposits is not resolved, forcing them to go out to buy. Thus, in addition to lower interest rates and foreign media have professional tricks for the people that there is no added benefit to holding foreign currency. At the same time, when the customer wants to buy U.S. savings, the banking system should be to sell them, "Binh said.


    At the Conference on Bank mission last 6 months in 2013 took place in the city. HCM on 19/6, SBV Governor Nguyen Van Binh said that the foreign exchange market and exchange rates remain stable, if not adjust more than 2%. From May 4/2013 to date, the exchange rate tends to increase again, due ta the psychological factors, on the other hand due to the pressure of foreign currency deficit appeared to increase again. However, the demand for foreign currency in the past 2 months is not large, at the same time, the central bank has to intervene promptly with reasonable volume. As of 12/6, the average exchange rate between USD and interbank USD steady at 20,828 VND / USD. Average buying rate of commercial banks increased by 0.9% from a year earlier.


    At the same time, the state continues to reduce dollarization. As of late May, the rate of foreign currency deposits in total liquidity of about 11.82%, down from 12.3% in 2012.


    According to the governor of the dollar against gold and the economy initially has achieved important results. This time last year, people were lining up to buy snake dragon sale, the transaction is in the thousands, but now everything has changed. Supply and demand of foreign currency tensions nothing. Maybe, but not so abundant VND lending, banks buy dollars to it or to improve state. However, the improvement of the status of the bank's foreign currency market is good for, if not to put each other in a vicious circle.


    For the reduction of exchange rate cap as a number of reviews yet, Governor Nguyen Van Binh said, adjusting the ceiling deposit rate of exchange will definitely happen, but how dose What remains to be considered.