The US Treasury adds a country to its currency manipulator watchlist if it meets two of three criteria: trade surplus with the US of at least $20 billion, current account surplus of at least 2 per cent of GDP and persistent, one-sided intervention in the currency equivalent to 2 per cent of GDP in six months of a year. Fitch analysts forecast the dong to average just slightly weaker by about 1 per cent and to average 23,475 dong per US dollar this year. USA. According to analysts from Fitch Solutions, a strong foreign reserves position should allow the central bank to safeguard the currency against excessive downside volatility to avoid potential punitive measures from the US due to currency manipulation. What about the Vietnam Dong? The ministry said hackers could, Vietnam’s dollar supply source is forecast to decline in the domestic market this year, given by weaker foreign direct investment (FDI) inflows and exports. Fitch's credit rating for Vietnam was last reported at BB with stable outlook. Vietnamese Dong - data, forecasts, historical chart - was last updated on December of 2020. For the purpose of this article đồng has been anglicized to dong. The Bloomberg piece says Vietnam’s financial authorities have devalued the Dong in the past to drive exports and stir the economy. Limited weakening Cookie Notice. There are currently no items in this Watchlist. Vietnamese Dong Exchange Rate Forecast Sunday, 17 January 2021. Exchange Rates Updated: Jan 13,2021 17:59 UTC. However, it should be known that the currency of Vietnam has actually been devalued over the past few years. The dong remained relatively stable against the dollar last year, with the SBV’s reference exchange rate up some 1.45 per cent against the end of the previous year. Comment. Copyright © 2020 The Phnom Penh Post. In rankings, The Ministry of Tourism plans to launch a travel bubble allowing transit between Cambodia and 12 other regional countries in a bid to resuscitate the tourism sector amid crushing impact of the ongoing spread of Covid-19, Ministry of Tourism spokesman Top Sopheak told The Post on, Prime Minister Hun Sen said China would offer Cambodia an immediate donation of one million doses of the Covid-19 vaccine produced by the Sinopharm company. This is where investors can get rich. Eli Lilly Stock Is Still Pricey. For the best MarketWatch.com experience, please update to a modern browser. Finance expert Nguyen Tri Hieu told Viet Nam News that pressure on the exchange rate would be bigger this year as a greenback supply decline in the domestic market is forecast, driven by weaker foreign direct investment (FDI) inflows and exports. Saturday, 02/01/2021. 2020 VND =. The word đồng derives from the Chinese tóng qián, which refers to Chinese bronze coins from the dynastic periods of China and Vietnam. Privacy Notice, and Higher inflation would also put more pressure on the exchange rate, Hieu said. An Iraqi government white paper has warned of a possible collapse in the value of the Iraqi dinar. “Besides, it is projected that FDI and remittance inflow to Vietnam would also weaken in 2020 due to the global economic slowdown, providing less support to the dong,” Hieu added. icon 16/01/2021. Shocking Revelations about The Coming Dinar, Dong and Dollar re-Evaluations. It may depend on bond yields, Britain and EU headed for financial services showdown, Bitcoin’s parabolic price surge near $42,000 may be the ‘mother of all bubbles’. How to Play It With Options. Why the Stock Is Slipping. In Vietnamese a “d” with a strike through it (đ) is a hard d, while a regular d is soft, sounding like y or z, depending on which pronunciation of Vietnamese you use. The centre can house up to 500 people, according to Phnom Penh municipal governor Khuong Sreng. The processing and manufacturing sector continued to attract the bulk of FDI at $24.6 billion, which accounted for 64.6 per cent of investment capital last year. The 500,000 remains in very limited circulation and thus will have a new value of $500,000 USD (500,000 Dong x 1 USD). “Due to a decline in global demand, Vietnam’s exports in 2020 may not be positive as last year and the Government even forecasts a trade deficit of about 3 per cent of export turnover this year,” Hieu said, adding that Vietnam’s imports are also likely to rise over the coming months, outpacing exports and putting pressure on the dong. As for external headwinds, according to Hieu, though the US and China this month signed a first phase trade agreement, there are still a lot of disagreements between the two sides. The final outlook for the Dong is encouraging due to economic progress, but still uncertain due to a variety of changes on the horizon. Rapid7 stock price target raised to $100 from $77 at Monness Crespi Hardt, Asian markets gain on high hopes ahead of Biden’s inauguration, Yellen says smartest thing to do now is ‘act big’ to help struggling Americans, Stocks rise in Hong Kong, Shanghai on China’s economic growth; other Asian markets retreat, In return to hands-off approach, Yellen to say U.S. doesn’t seek weaker dollar, Fed’s Kashkari says he’s not worried about inflation ‘shooting way above’ 2% rate, Factory activity in New York decelerates for fourth straight month in January, Asian markets mixed Friday as investors eye Wall Street reaction to Biden relief plan, Fed’s Powell says talk of tapering bond-buying is premature, ‘Reckoning’ ahead? Oil prices edge higher, buoyed by stimulus hopes, weaker dollar, Norwegian Cruise extends cruise suspensions through April 30. However, it is forecast that infrastructure and human capital bottlenecks will see FDI to the manufacturing and processing sector ease this year. ‘Kingdom one of safest to visit in Covid-19 era’, Kingdom accepts Chinese vaccine, PM first to get jab, Quarantine site in north Phnom Penh inaugurated. Asia News Network | Publication date 21 January 2020 | 22:08 ICT. The State Bank of Viet Nam plans to increase the value of the Vietnamese dong against the US dollar over the next four months in a bid to protect the value of the domestic currency, State Bank Governor Nguyen Van Binh told Sai Gon Economic Times this week. This is likely to see Vietnam ramp up imports of meat to deal with the shortfall, causing higher inflation in the coming months. VIETNAMBIZ.VN/VIET NAM NEWS, Phnom Penh Post - Vietnamese currency under bigger pressure in 2020, Vietnamese currency under bigger pressure in 2020. The US Treasury’s January 2020 assessment with data up to June 2019 noted that ‘The Vietnamese authorities have credibly conveyed to Treasury that net purchases of foreign exchange were 0.8% of GDP over the four quarters through June 2019’ and that ‘Vietnam intervenes in foreign exchange markets frequently, and in both directions, to maintain a close link to the dollar’. Despite being under more pressure, experts also forecast the Vietnamese central bank would try to limit the depreciation of the dong as the country is still stuck on the US’s currency manipulator watchlist. Moreover, as US President Donald Trump wants to use the trade war to gain an advantage over his opponent in his re-election campaign, the war cannot end in 2020, Hieu said, adding this would continue to have a strong impact on US dollar and Chinese yuan in 2020, putting pressure on the dong. By Staff Writer Last Updated Apr 12, 2020 9:37:03 PM ET. 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