14:07 | 07/01/2016 Finance - Banking
The new exchange rate mechanism will not make any remarkable impact on the Vietnamese real estate market, assured an expert from the CBRE Vietnam.
The Vietnamese dong remains stable compared to other foreign currencies in the region, CBRE Vietnam Deputy Director Nguyen Hoai An explained, adding that Vietnamese still account for 90 percent of investors in the real estate sector, and domestic capital flows dominate the market.
According to the CBRE experts from Singapore and Hong Kong, Vietnam’s exchange rates remain stable and positive among other Southeast Asian countries’.
They attributed Vietnam’s property market attractiveness to growing population that leads to increased demand for housing.
The State Bank of Vietnam (SBV) decided on January 3 that it will announce a central rate for the VND and the USD on a daily basis, serving as reference rate for credit institutions and foreign bank branches to set their own rates. Banks in Vietnam are allowed to trade the dollar within a three percent range above or below the central rate./.