Saigon Securities Incorporation (SSI) Retail Research stated that in the week from February 25th to March 1st, the US dollar/dong exchange rate on the market dropped by 10 dong per US dollar on both buying and selling rates, reaching 23,150 dong and 23,250 dong per US dollar. Meanwhile, the free exchange rate declined by 20 dong per US dollar on buying rate and remained unchanged on selling rate, reaching 23,195 dong and 23,220 dong per US dollar.
In contrast, the central reference rate, after falling by nine dong per US dollar in the week before, regained the uptrend in the recent three months with an increase of 17 dong per US dollar to 22,923 dong per US dollar in the last week,
Meanwhile, data from the Ministry of Planning and Investment pointed out that the Foreign Direct Investment (FDI) disbursement in the first two months of 2019 reached 2.58 billion US dollars, up by 9.8%. This is the highest increase in the past three years.
According to the analysis team, the more stable international environment and positive developments in the domestic have reduced the psychology of hoarding foreign currencies. In addition, since the buying rate of the SBV is currently very attractive, the agency has continuously purchased large amount of foreign currencies.
SSI Retail Research also said that since the pressure on exchange rate does not exist at the present time, the exchange rate level will be stable at around 23,200 dong per US dollar.
