Vietnam’s foreign reserves rise to $110 bln, 10 times higher than 2010

Vietnam’s foreign reserves in recent years have been in safe area, even during periods of instability in the international market. However, experts suggest that the reserves should be increased to prevent possible economic disorders.

In the past year, the government implemented synchronous solutions for macroeconomic management. Flexible monetary policy in exchange rates, interest rates to control inflation has been applied properly, said the State Bank of Vietnam.

Supply and demand in the foreign exchange market have improved, the supply of foreign currency in the domestic foreign exchange market has changed from scarcity to surplus, meeting the needs of the economy.

High foreign exchange reserves help strengthen national security, prevent external influences, and strengthen the confidence of domestic and foreign investors. In addition, high foreign exchange reserves and surplus balance of payments are favorable conditions to support the central bank to keep the exchange rate stable.