Vietnam's reserves dip to $13.85 bln in March

TN News

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Vietnam's international reserves hit US$13.85 billion by the end of March this year, a 42 percent slump from the end of 2008, figures compiled by the International Monetary Fund show.

The figure confirms that Vietnam's reserves continued to fall well into this year as the dong remained under pressure against the dollar.

The State Bank of Vietnam does not make public the current level of foreign exchange reserves, leaving outside economists guessing about a figure seen as a critical gauge of the country's ability to keep its currency on an even keel.

The International Monetary Fund's International Financial Statistics September update for Vietnam, posted on the IMF website, said total reserves minus gold stood at $13.85 billion at the end of March, falling from $15.49 billion in February and $15.74 billion in January.

At the end of 2008 reserves stood at $23.89 billion, it showed.

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