In the second week of Sep2024, the north Vietnam has had terrifying experiences of typhoon, flood and landslide. Below are the highlights of Business News in this week: Foreign trade of Vietnam expected to set new record in 2024; Banks reduce interest rates, offer new loans for customers affected by Typhoon Yagi; The exchange rate Dollar against Vietnam Dong continues to slip; VN-Index decreases as global stocks gain.
Foreign trade of Vietnam expected to set new record in 2024
A sharp rise has been recorded in foreign trade over the past few months, and if this upward trend is sustained, this year’s foreign trade turnover is likely to break the record of US$732 billion set in 2022. If the monthly turnover of $70 billion is maintained, total exports and imports for the whole 2024 may exceed $790 billion.
Banks reduce interest rates, offer new loans for customers affected by Typhoon Yagi
Several private and State-owned banks have reduced interest rates and offered debt relief for customers affected by Typhoon Yagi. The preferential measures are implemented under the guidance of the State Bank of Việt Nam to reduce the financial burden on individual customers, help businesses overcome a difficult period, and create momentum for economic recovery.
The exchange rate Dollar against Vietnam Dong slips
The U.S. dollar fell slightly against the Vietnamese dong on the black market Saturday morning after hitting a near nine-month low on the global markets. Unofficial exchange points sold the dollar at VND25,030, down 0.2% from Friday. Vietcombank kept its rate unchanged at VND24,730, hovering around a seven-month low. The State Bank of Vietnam kept its reference rate stable at VND24,172. The dollar has risen against the dong by 2.41% since the beginning of the year.
VN-Index decreases as global stocks gain
The last news is Vietnam Stock Market. Vietnam’s benchmark VN-Index fell 0.37% to 1,251.71 points Friday while global shares increased. The index closed 4.64 points lower after gaining 3.08 points in the previous session. Trading on the Ho Chi Minh Stock Exchange increased by 7% to VND11.173 trillion (US$455.2 million).