The State Bank of Vietnam (SBV) Deputy-Governor Nguyen Thi Hong held a meeting with a specialist delegation from the Bank of Korea in Hanoi on November 20. Attending the meeting were representatives of the SBV International Cooperation Department, Monetary Policy Department, Forecasting and Statistics Department, Foreign Exchange Management Department, Banking Supervision Agency and Operations Center, as well as specialists from the Bank of Korea (BoK), the Korea Institute of Finance (KIF) and a number of South Korean commercial banks.
20161124170924712PTD Nguyen Thi Hong vs HQ
At the meeting, Mr. Kee Sun Jang, Deputy Chief of International Cooperative Office of the BoK, briefed the host on a report concerning “a model of forecasting forex liquidity and exchange rate – Experience of South Korea”, and the report's main substance, and the results of seminars recently organized by the two central banks. He hoped that the SBV would set out plans for their cooperation in the near-future.
The SBV Deputy-Governor greatly appreciated the efforts of the South Korean specialists in completing the compilation of a report on “a model of forecasting forex liquidity and exchange rate – Experience of South Korea” in a very short time (about 5 months), as part of the cooperative program of “Partners sharing knowledge” between the two central banks. She said that it was a meaningful document which supported the current policy formulation and the exchange-rate and forex management of Vietnam. She also hoped that SBV officials could learn from the experiences of the BoK in forecasting and alerting issues related to the exchange-rate and forex liquidity so that informed and decisive management will be able to stabilize the exchange-rate and forex market in line with the objectives set by the Government and the SBV.
In order to enhance close and effective cooperation with the BoK, the SBV Deputy Governor assigned the International Cooperative Department (in coordination with the relevant SBV entities) to specify areas for research and consultancy to further cooperative activities between the two central banks in the near future.
Le Hang