VIETNAM’S RECORD RESERVES

HANOI: Vietnam’s foreign exchange reserves hit a new high of almost US$80 billion (RM328 billion), with a quarter of it bought this year, Prime Minister Nguyen Xuan Phuc said at a forum yesterday. Foreign exchange reserves of the Southeast Asian country have been growing steadily in recent years, backed by robust exports. “The increase, used to stabilise currency and control inflation, is a positive indicator of 2019, although there remained concerns over growth as the economy has expanded in the past few years,“Phuc said, adding the State Bank of Vietnam had bought US$20 billion in foreign currencies this year. – Reuters