Viet Nam News HÀ NỘI – The State Bank of Việt Nam (SBV)’s exchange rate policy was aimed at ensuring macroeconomic stability, not just export growth, said Nguyễn Thị Hồng, the bank’s deputy governor. Hồng made the statement following suggestions that the đồng should be further weakened against the US dollar to support the country’s exports, especially given the recent devaluation of the Chinese yuan. According to Hồng, the SBV had been monitoring several currencies as well as the yuan to set its daily reference exchange rates. Besides managing the forex market based on the daily reference rate, Hồng said that SBV was also looking at other factors such as interest rates and liquidity, as well as fiscal policies to ensure the country meets its macroeconomic targets. The SBV reported that by August 1, the central bank’s daily reference exchange rate of the dollar against the đồng had risen by 1.1 per cent compared to the end of last year, while with the current trading band of +/- 3 per cent, the inter-bank rate was up 2.5 per cent. The rise was under control and in line with other currencies in the region and the world, Hồng said. On Thursday, the SBV announced a daily reference exchange rate of VNĐ22,666 per dollar, down VNĐ3 against the previous day.