The decision was issued on September 7. This is the third increase in the selling price of the greenback since the beginning of this year. Previously, the SBV adjusted the USD exchange rate by 200 VND to 23,250 VND/USD in May and continued to raise it to 23,400 VND/USD in early July, according to the Vietnam News Agency.
Economists said that the bank’s decision to sharply increase the selling price of the US dollar is not surprising, as recently some investment organisations have predicted this adjustment.
The central bank has sold a large amount of foreign currencies from its reserves since the beginning of the year.
According to BIDV Securities Company (BSC Securities), Vietnam's foreign exchange reserve stands at about 97.7 billion USD, a significant decrease from the record of 110 billion USD.
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The selling price of the US dollar has been increased by 300 VND to 23,700 VND/USD (Photo: laodong.vn)
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Pham Chi Quang, Deputy Director General in charge of the Monetary Policy Department of the SBV, said that the bank will increase the intervention sale of foreign currency to be ready to ensure the regular supply of foreign currencies to the market, thus creating conditions for the credit institution system to fully and promptly meet the legitimate foreign currency need of organisations and individuals.
The SBV said it will manage the interest rate towards the creation of room for the exchange rates to develop flexibly and absorb shocks from the outside, while interfering in the market to minimise the over-fluctuation of the rates, contributing to stabilising the foreign currency market.
To ensure macroeconomic stability and control inflation, since the beginning of this year, the SBV has sold foreign currencies through suitable methods, meeting the demand of the economy and maintaining the VND liquidity to support the VND interest rate stability, thus assisting the socio-economic recovery and development process, said Quang.
The bank will continue to coordinate with relevant agencies to make concerted management over VND liquidity to ensure the stability of the exchange rates, foreign currency market and interest rates, he added.
Guidance on compulsory mask wearing issued by MoH
A guidance has been issued by the Ministry of Health (MoH) on the wearing of masks in public places for COVID-19 prevention and control, clarifying to who and where it is a must.
Basing on the human-to-human transmission mechanism of the SARS-CoV-2 virus, the ministry underlined that wearing face masks in public places is an effective measure to protect people’s health, especially those with underlying diseases, said the Vietnam News Agency.
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Wearing of masks in public places for COVID-19 prevention and control (Photo: congly.vn)
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Accordingly, people with symptoms of acute respiratory infection or suspected COVID-19 infection, and all people, except children under five years old going to a public place in an area where the pandemic level is declared at Level 3 or Level 4, must wear masks.
Wearing masks is also compulsory in medical facilities and accommodation hosting people undertaking medical quarantine or supervision, and all medial staff.
Under the ministry’s guidance, people are requested to wear masks in public places including public transportation vehicles, trade centres, supermarkets, traditional markets, closed spaces and poorly ventilated places such as bars, discos, karaoke, beauty salons, gyms, restaurants, cinemas, theaters and studios.
Staff in offices for dossier receipt and transaction places must also wear masks when directly contacting customers, according to the guidance,which also specifies other cases that are encouraged to wear masks in public spaces.
Vietnam wins multiple awards at World Travel Awards 2022
Vietnamese airlines and destinations were named among the winners at the award ceremony of the World Travel Awards 2022 - Region: Asia & Oceania, which took place in Ho Chi Minh City on September 7 evening.
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Deputy Director General of Viet Nam National Administration of Tourism Ha Van Sieu receives the World Travel Awards for Vietnam. (Photo: TITC)
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The national flag carrier Vietnam Airlines won the titles of Asia's Leading Airline - Economy Class and Asia's Leading Airline Brand; while Vietravel Airlines was accredited as Asia's Leading New Airline, reported by the Vietnam News Agency.
Meanwhile, the Ville De Mont Mountain Resort in the northern mountainous province of Lao Cai’s Sa Pa town and Premier Village Ha Long Bay Resort in the northern coastal province of Quang Ninh were called onto the stage as Asia's Leading Lifestyle Resort and Asia's Leading Family Villa Resort 2022, respectively.
This year, Vietnam received a series of nominations for different categories at the WTA 2022. The country was nominated for awards in the Asian region for Leading Destination, Leading Sustainable Tourism Destination, Leading Heritage Destination, Leading Cultural Destination, Leading Nature Destination, Leading Youth Travel Destination and Leading Beach Destination.
The capital city of Hanoi was shortlisted as Asia’s Leading City Break Destination and Asia’s Leading Cultural City Destination.
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| Representatives of Vietnam Airlines receive an award at the ceremony (Photo: PANO) |
Last year, Vietnam won the title of Asia’s Leading Destination at the World Travel Awards, and was honoured as Asia’s Leading Sustainable Tourism Destination, and the Vietnam National Administration of Tourism as Asia’s Leading Tourist Board 2021.
The WTA was launched in 1993 to acknowledge excellence in the travel and tourism industry. Heralded as the “travel industry’s equivalent of the Oscars” by the Wall Street Journal, the awards are based on votes from the public and travel professionals across the globe.
Last night’s ceremony marked the second time Vietnam has played host to the Asia & Oceania Gala Ceremony, with Phu Quoc, the nation’s largest island off the southern province of Kien Giang, selected as the venue in 2019.
Vietnam runs trade surplus of 3 billion USD with UAE
Two-way trade between Vietnam and the United Arab Emirates (UAE) was estimated at 3.3 billion USD in the first eight months of this year, with the Southeast Asian nation enjoying a trade surplus of some 3 billion USD, said the Vietnam News Agency.
The Vietnamese Trade Office in the UAE suggested domestic firms set out suitable strategies for exports to the UAE which, it said, gathers many rivals due to its openness.
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Two-way trade between Vietnam and the United Arab Emirates (UAE) was estimated at 3.3 billion USD in the first eight months of 2022 (Photo: nhadautu.vn)
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Notably, food and beverages exported to the UAE should meet Halal standards, the office said, asking Vietnamese enterprises to identify partners before cooperation and select safe payment methods to avoid any trade frauds.
The UAE will serve as a gateway for Vietnamese businesses to step up exports to the Middle East and Africa, it suggested.
The office also proposed trade promotion agencies increase investment and trade forums with the participation of enterprises from both Vietnam and the UAE, as well as representatives from local management agencies, while facilitating Vietnamese firms to participate in international exhibitions and fairs in Dubai.
Launching or optimising direct transport routes between the two sides will help cut transportation costs significantly, it said./.