Nguyen Minh Hung, governor of the State Bank of Vietnam, told local legislators at an ongoing question and answer session that the reserve rose by 1 billion dollars from last month.
The reserve rose by 4 billion dollars from late June this year and by 5 billion dollars from late 2016, according to the State Bank of Vietnam. The rise was reported in the context of the foreign exchange rate in the domestic market being relatively stable. It is estimated that the daily reference đồng/dollar exchange rate listed by the central bank in the first nine months increased by 1.4 per cent against earlier this year, while the rate in the unofficial market declined by 1.5-1.7 per cent.
According to the central bank, the liquidity of the domestic foreign exchange market was good and met the demands of local organisations and individuals.
Vietnam witnessed a trade surplus of over 1.2 billion dollars in the first 10 months of this year, according to the General Department of Vietnam Customs.