HANOI: Vietnam's central bank is ready to immediately intervene the foreign exchange market in case of adverse impact on the economy from currency moves, its deputy governor said on Friday.
The State Bank of Vietnam (SBV), the central bank, will be flexible in its handling of the exchange rate, deputy governor Dao Minh Tu told a media conference, adding that rising import demand also put pressure on the dong currency.
He said the dong has weakened by 4.9 per cent against the U.S. dollar this year.
Tu said credit growth in the first quarter of this year was slow and measures have been taken to ensure sufficient credit for the economy. (Reporting by Khanh Vu; Writing by Phuong Nguyen; editing by John Mair)