Posts Tagged ‘ Reference Rate ’

Vietnam bonds decline on speculation banks selling to raise cash 

January 11, 2012
Vietnam bonds decline on speculation banks selling to raise cash 

  Vietnam’s five-year bonds on Monday fell on speculation an increase in money-market rates prompted banks to sell the securities to raise cash. The dong was steady. Overnight interbank borrowing rates climbed to 12.25 percent Monday, the highest level since Dec. 16, from 11.95 percent on Jan. 6, data compiled by Bloomberg show. The money [...]

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Vietnam may adjust reference rate 5-6pct, weakening dong 

January 10, 2012
Vietnam may adjust reference rate 5-6pct, weakening dong 

  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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Vietnam dong slips to record low as central bank weakens rate 

October 28, 2011
Vietnam dong slips to record low as central bank weakens rate 

  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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Vietnam’s dong has worst week since August as fixing weakened 

October 21, 2011
Vietnam’s dong has worst week since August as fixing weakened 

  Vietnam’s dong had its worst week in two months as the central bank set the currency’s fixing lower in an attempt to narrow the gap between the official and unofficial exchange rates. Government bonds fell. The State Bank of Vietnam lowered the reference rate four times this week, setting it at the weakest level [...]

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Vietnam’s dong trades near two-week low on weaker reference rate 

October 14, 2011
Vietnam’s dong trades near two-week low on weaker reference rate 

  Vietnam’s dong traded near a two-week low on Thursday as the central bank lowered its daily reference rate for the fifth time this month. Government bonds rose. The State Bank of Vietnam fixed the reference rate at 20,678 per dollar, compared with 20,668 on Wednesday, according to its website. The dong is allowed to [...]

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Vietnam to raise dollar reserve ratios, cap deposit rates 

April 11, 2011
Vietnam to raise dollar reserve ratios, cap deposit rates 

  Vietnam’s central bank raised the amount of dollar deposits lenders must set aside as cash to curb the use of foreign currency in the nation and stabilize the dong. The reserve ratio on deposits held in the US currency will increase by 2 percentage points to a range from 3 percent to 6 percent [...]

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Vietnam to allow gold imports to stabilize market

November 12, 2009
Vietnam to allow gold imports to stabilize market

Vietnam’s central bank on Wednesday lifted a 1-1/2-year-old ban on gold imports in a bid to stabilize the market after a sharp rise in prices helped drive the country’s dong currency to a record low. “The State Bank of Vietnam will allow gold imports with a volume sufficient to intervene in the market in order [...]

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Vietnam currency being managed flexibly: central bank

September 19, 2009
Vietnam currency being managed flexibly: central bank

Vietnam’s central bank governor, Nguyen Van Giau, said on Thursday the dong was being managed “with flexibility, as normal”, a day after his predecessor was quoted recommending a small devaluation. Asked whether the central bank had plans to allow the currency to depreciate quickly, Giau said: “I have no comment. Nothing at all.”On Wednesday, the [...]

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Expectation of US dollar appreciation deters borrowers

June 19, 2009
Expectation of US dollar appreciation deters borrowers

Fears the US dollar will strengthen further against the dong have kept businesses from borrowing in dollars despite low interest rates, bankers say.   Interest rates on dollar loans at local banks were lowered by 0.3-0.6 percent per year to 3-6 percent in the week ending June 10, the central bank said Friday in its weekly [...]

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Expectation of US dollar appreciation deters borrowers

June 19, 2009
Expectation of US dollar appreciation deters borrowers

Fears the US dollar will strengthen further against the dong have kept businesses from borrowing in dollars despite low interest rates, bankers say.   Interest rates on dollar loans at local banks were lowered by 0.3-0.6 percent per year to 3-6 percent in the week ending June 10, the central bank said Friday in its weekly [...]

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Feature

Vietnam, Cuba foreign ministries to bolster ties

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Vietnam’s top diplomat has affirmed that the Foreign Ministry will closely cooperate with its Cuban counterpart to implement the agreements reached by the two...