Vietnam's foreign reserve hits 63.5 bln USD | 2018-05-23 |

Vietnam's foreign reserve hits 63.5 bln USD

BSS/XINHUA     23rd May, 2018 07:31:16 printer

Vietnam's foreign reserve hits 63.5 bln USD

Vietnam's foreign reserve has reached an all-time record high of 63.5 billion U.S. dollars, up 0.5 billion U.S. dollars from late April, according to a government report. 

The report was presented at the ongoing 5th session of Vietnam's 14th National Assembly, the country's top legislature, local newspaper VnEconomy reported on Wednesday. 

Over the past two years, the country's central bank has purchased hard currencies of 32 billion U.S. dollars, raising its foreign reserve to the record high level, according to the report. 

The bank has recently used futures contracts to balance cash flows to moderate the pressure on exchange rate between U.S. dollar and Vietnamese dong as well as on interest rate, said local experts. 

Vietnam made export turnovers of nearly 73.8 billion U.S. dollars in the first four months of 2018, increasing 19 percent on-year, and enjoying a trade surplus of 3.4 billion U.S. dollars, said its General Statistics Office.