Vietnam to keep 2014 forex rate changes within 2 pct-cbank

HANOI Sun Dec 29, 2013 9:25pm EST

Related Topics

HANOI Dec 30 (Reuters) - Vietnam's central bank will aim to keep changes in the dollar/dong exchange rate within 2 percent next year, after it depreciated the dong by 1 percent in 2013, it said in a statement.

"The exchange rate will be adjusted by no more than 2 percent," the State Bank of Vietnam said in the statement issued late on Friday.

The central bank weakened the dong by 1 percent against the dollar in June in what it said was to accurately reflect supply/demand on foreign currencies.

Lending in 2014 would be boosted to an annual growth of between 12-14 percent, while interest rates would remain stable, similar to this year, the statement said.

Loans as of Dec. 27 rose 12 percent from the end of 2012, Governor Nguyen Van Binh was quoted by the Vietnam Economic Times newspaper as telling a central bank meeting in Ho Chi Minh City last Friday.

The government has projected Vietnam's economic growth at 5.8 percent in 2014, after the economy accelerated 5.42 percent this year from an expansion of 5.03 percent in 2012, the slowest since 1999. (Reporting by Ho Binh Minh; Editing by Kim Coghill)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.