January 23, 2012
Vietnam’s benchmark stock index on January 19 rose the most in seven months and the currency rallied to a one-month high on speculation the central bank will cut interest rates and limit declines in the dong. The Ho Chi Minh City Stock Exchange’s VN Index climbed 3 percent to 373.43 at the 11 a.m. [...]
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January 14, 2012
Vietnam signaled that it may cut policy interest rates to “more suitable” levels after the first quarter and weaken the dong this year as Asia’s fastest inflation eases. “The central bank will adjust policy rates to more suitable levels, aiming to help ease the average level of market interest rates,” central bank Governor Nguyen [...]
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January 11, 2012
Vietnam will adjust policy interest rates to “more suitable” levels after the first quarter and weaken the dong as much as 3 percent this year, central bank Governor Nguyen Van Binh said. “We believe that 2012 will be a hard year, a challenging year for Vietnam’s economy,” Binh said at a conference in Hanoi [...]
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January 10, 2012
Vietnam’s government may weaken the dong this year as gold buying puts downward pressure on the currency, according to economists who advise the prime minister. The country may adjust the dong-dollar reference rate by five percent to six percent in 2012, the National Financial Supervisory Commission wrote in a report released in Hanoi on [...]
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November 25, 2011
Vietnam increased penalties for foreign currency trading violations last month Vietnam’s central bank has imposed stiff penalties on two companies and a university in Hanoi for violating regulations on U.S. dollar trading and illegally listing prices in the foreign currency. The combined fine of VND650 million (US$30,940) showed that the State Bank of Vietnam is [...]
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November 19, 2011
US President Barack Obama (R) listens as Chinese Premier Wen Jiabao speaks during their meeting on the sidelines of the Association of Southeast Asian Nations (ASEAN) and East Asia summits in Nusa Dua, on Indonesia’s resort island of Bali, on November 19. Of all the people Barack Obama thought he would be running against next [...]
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November 14, 2011
President Barack Obama arrives during the first plenary meeting at the APEC Summit in Honolulu, Hawaii November 13, 2011. The head of Boeing chose his words carefully as he explained to President Barack Obama the “dilemma” that Corporate America faces in trying to do business in China. “We see a world where our interests lay [...]
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November 6, 2011
Legislators say all depositors at banks should be protected A draft law plans to restrict deposit insurance to local currency deposits only, sparking concerns of a mass withdrawal of dollars from banks. According to the National Assembly’s Economic Committee, it’s necessary to stop providing insurance cover for foreign currency deposits to support the government’s policies [...]
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October 29, 2011
Prime Minister Nguyen Tan Dung wants to monitor case progress in Australia Bundles of polymer dong banknotes in Hanoi. The central government has reported to lawmakers that police have found no evidence of bribery in a high-profile international currency-printing scandal. The Ministry of Public Security has yet to find evidence that an Australian currency-printing [...]
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October 28, 2011
Vietnam’s dong on Friday closed below 21,000 per dollar for the first time as the central bank set the currency’s reference rate at the weakest level since at least 2005. Government bonds were steady. The State Bank of Vietnam set the daily reference rate at 20,803, compared with 20,788 on Thursday, according to its [...]
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