The unofficial value of the VN Dong depreciated by about 1.7% last week, and by about another 1% today to circa VND 23,900 to USD 1. The VN Dong is now down about 3% YTD, which is a bigger drop than expected, but is a smaller depreciation than that seen by most of Vietnam’s regional peers. Read more why our Chief Economist Michael Kokalari believes the USD-VND exchange rate should stabilize around the current level.
The Philippines closed its stock market for two days due to the rapid implementation of “enhanced quarantine” measures in response to COVID-19. Ismael Pili, VinaCapital’s Head of Research, explains why he expects Vietnam’s stock markets will continue to operate even as the country manages the virus outbreak.
It’s been about a month since COVID-19 (novel Coronavirus) first came to light, and we now have enough information to forecast how it might affect the economy. Chief Economist Michael Kokalari offers his analysis of and opinions around which sectors will be hit hardest and the overall impact on Vietnam’s growth this year and beyond.