Vietnam’s exchange reserves have constantly grown and have contributed to setting the exchange rate as well as implementing monetary policy, said the State Bank of Vietnam (SBV) in Hanoi on January 8.

Vice Governor of the SBV Nguyen Dong Tien said that the bank has taken comprehensive measures to stabilize major interest rates and curb inflation, by increasing trading sessions and compulsory reserve rates while flexibly adjusting the exchange rate.

Head of the SBV Nguyen Van Giau affirmed that in 2007, the SBV did not use money in circulation to buy foreign currencies as most of the strong currency supplies came from the increasing flows of foreign investment. The SBV purchased appropriate amounts of foreign currencies to stabilize the exchange rate and assure a balance in the economy.

Source: VOV