[Bangkok Bank] Vietnam Weekly Financial Market Report (16 Oct 2023 – 20 Oct 2023)

FOREIGN EXCHANGE MARKET

• USD/VND exchange rate surged remarkably last week.
• The country recorded US$22.56 billion trade surplus by mid-October.

MONEY MARKET

• Dong interest rates inched up in the interbank market last week.
• Vietnam State Treasury (VST) mobilized nearly VND2.8 trillion last week.

BRIEF ECONOMIC NEWS

Vietnam’s real GDP is expected to grow at 4.7 per cent this year, according to the October 2023 report by the International Monetary Fund (IMF) on Asia and the Pacific region. IMF’s projection for Vietnam’s real GDP growth for 2024 and 2025 were 5.8 per cent and 6.9 per cent, respectively. The Southeast Asian economy’s economic performance this year has put it in a middle-of-the-pack position, behind major economies such as China (5 per cent), and India (6.3 per cent) but ahead of peer economies such as Malaysia (4.0 per cent) and Thailand (2.7 per cent). (Source: Vietnam News)…

> Read more: Vietnam Weekly Financial Market Report (16 Oct 2023 – 20 Oct 2023)