"We welcome the move to normalise operations in the foreign exchange market, by closing the gap between the official and parallel exchange rates. We also welcome the intention to move to a more flexible exchange rate regime," the Fund's senior representative in Vietnam, Benedict Bingham, said.

"For this new regime to be stable, it will need to be underpinned by a broader set of policies to restore macroeconomic stability. In particular, monetary policy will need to focus more decisively on containing inflation, and fiscal policy will need to be put on a clearer consolidation path to contain public debt."

Reuters - February 11, 2011