Despite the difference in policies of the State Bank of Vietnam (SBV) and the US Federal Reserve (Fed), the USD/VNĐ exchange rate has remained stable to date thanks to a trade surplus and a bright economic outlook of Việt Nam.
The Vietnamese stock market moved higher while global benchmark indices dipped after the US Federal Reserve delivered another rate hike of 75 basis-point on Wednesday.
The yield of Government bonds (G-bond) has continued to decline and hit seven-month lows as the US Federal Reserve (Fed) seems unlikely to hike interest rates and the domestic monetary market has shown positive movements.
The US Federal Reserve Board announced on its website early this week that it had approved the application by Joint Stock Commercial Bank for Foreign Trade of Viet Nam (Vietcombank) to establish an office in New York City.
The US Federal Reserve (Fed)’s third interest rate hike this week would not affect Viet Nam’s economy significantly as the move was foreseeable, according to experts.
The reduction of the US Federal Reserve''s US$85 billion stimulus package to $75 billion won''t directly impact the Vietnamese stock market, but will affect foreign capital inflows.