PM orders SBV to monitor exchange rate flexibly in line with market developments

Le made the above statement while chairing a meeting with the State Bank of Viet Nam (SBV) and credit institution system in Ha Noi on August 13.

The Government leader tasked the SBV to maintain policy interest rates and increase credit liquidity to help credit institutions access capital at lower costs.

The SBV was assigned to manage the exchange rate flexibly in line with market developments, coordinate monetary policy instruments in a synchronized manner and flexibly intervene in the market to stabilize the foreign exchange market.

The SBV needs to closely manage the gold market, ordered the Prime Minister, asking credit institutions to reduce costs, stabilize interest rates and make substantive reductions in lending rates.

He requested the SBV to work closely with National Assembly agencies to submit to the National Assembly for approval at its on-going sitting the draft laws amending and supplementing a number of articles of the Law on the SBV, the Law on Anti-Money Laundering, and the Law on Credit Institutions.

The Prime Minister required the SBV to focus on completing the scheme to further modernize the banking system and deal with weak credit institutions, while improving businesses' access to capital, particularly for small and medium-sized enterprises, with completion targeted for this August.

It is necessary to promote the development of science and technology, innovation and digital transformation, while ensuring the security, safety, confidentiality and uninterrupted operation of information technology systems and payment activities, underlined the Government leader.

The Prime Minister also urged the central bank and credit institutions to make further active and responsible contributions to social welfare efforts.

On August 7, the SBV required commercial banks to design and make public credit programs from this August for SMEs and sectors identified as key drivers of economic growth, with lending rates at least 1 percentage point a year below the banks' average rates for loans of the same maturities.

The SBV requested commercial banks to proactively cut costs and allocate resources to develop suitable credit programs, products and packages, in a spirit of supporting and sharing with individuals and businesses.

Banks were specifically asked to prioritize credit loans to sectors serving as growth drivers and SMEs.

As of June 26, this year, total outstanding credit across the banking system exceeded VND19.97 quadrillion (US$759.5 billion), marking an increase of 7.41 percent from the end of 2025 and 18.1 percent year-on-year./.