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Adjusting the exchange rate band in Vietnam: 70% of export contracts have the opportunity to benefit

Updated Oct 26, 2022
VOV.VN - Exporting enterprises that do not have to import raw materials can benefit from the appreciation of the dollar, but importers have to pay extra costs to make up for the difference due to exchange rate changes.
The State Bank's adjustment of the spot exchange rate range between Vietnam Dong and USD from ±3% to ±5% since October 17 is considered to be in line with the objective trend from the impact factors. of the international financial market, ensuring the supply-demand relationship of foreign currencies and stabilizing the market, supporting the recovery of economic growth. Certain effects According to many experts, the change in exchange rate variables, in addition to affecting the loans of enterprises, also directly affects the business activities of export and import enterprises. If exporting enterprises have less need to import raw materials for processing and processing, they can benefit from the appreciation of the US dollar, on the other hand, importers have to pay an additional cost to offset the difference caused by this fluctuation. The latest information from the Import-Export Department (Ministry of Industry and Trade) shows that although China is still the largest market ...
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