Vietnam's foreign currency reserves have reached a record high and are enough for 17 weeks of imports, a central bank’s newspaper reported Thursday.
"There are large inflows of forex entering the country to invest in local stocks and bonds in the first six months of this year," Director Truong Van Phuoc of the State Bank of Vietnam's exchange bureau was cited as saying by Vietnam Banking Times newspaper.
Based on official statistics, Vietnam is estimated to have forex reserves of US$16 billion.
In November 2006, the SBV said Vietnam had forex reserves of $12 billion, enough for 13 weeks of imports.
Source: Thanh Nien
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