VND among most stable currencies in Asia: UOB

It provides assessments of Vietnam's economic prospects, with some notable points related to monetary policy. Specifically, it states that the Vietnamese dong is one of the most stable currencies in Asia.

Despite major changes in the Fed's interest rate hike expectations and fears of a global recession, the VND traded in a narrow range of 0.8%, at around 23,600 VND/USD.

According to UOB, when the State Bank balances efforts to promote economic growth and ensure price stability, it is likely that the State Bank will favour a more loose policy in the coming period.

Regarding economic growth, UOB experts maintain their forecast of Vietnam's GDP growth in 2023 reaching 6.6%.