On the morning of February 20th, 2024, Vietnam's state bank SBV announced the reference exchange rate between the VND and USD increased by 9 dong to 23,988 dong. Exchange rates at commercial banks also saw uniform increases across the board.
The State Bank has submitted to the Prime Minister a plan to increase capital for the group of 4 largest state-owned banks in Vietnam (including Vietcombank, Agribank, BIDV, and Vietinbank). The Big 4 group is currently leading in terms of total assets, capital base, and prestige in Vietnam.
The State Bank of Vietnam set the daily reference exchange rate at 23,140 VND per USD on January 12, up 13 VND from the previous day.
The State Bank of Vietnam (SBV) targets a credit growth rate of 12 percent in 2021, equivalent to the growth of 12.13 percent last year, according to SBV Deputy Governor Dao Minh Tu.
The regulatory sandbox for financial technology (fintech) which is expected to be created this year, coupled with efforts to promote the use of digital financial services, are expected to accelerate the development of fintech in Vietnam.