HANOI: Vietnam still has effective tools to proactively control the dong/US dollar exchange rate in 2024 even if the US Federal Reserve (Fed) has to maintain its interest rates at the current high level for an extended time due to the conflict in the Red Sea and other new uncertainties, experts say.
Though the dong-US dollar exchange rate seems to have temporarily stabilised after forecasts that the Fed will not increase interest rates, it still could change and cause exchange rate strain in the domestic market if the US central bank keeps the rates at the current high level for a longer time.
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