Specifically, the reference rate could be changed regularly, even daily. The determination of the exchange rate will not be solely based on the direct correlation between VND and USD as before. Now, the correlation between the dollar and some other major currencies will be taken into account, and then the bank will impose the most reasonable rate. According to economic experts, the new policy will reduce excessive expectations of devaluation or efforts to hold foreign currencies. However, the nature of speculation will change. For investors, speculation on foreign currency might be greatly reduced, as it will now be more difficult to forecast. Therefore, the level of dollarisation of the economy will also decrease.
