February 2, 2010
LookAtVietnam – Commercial banks have purchased $450 million from state owned conglomerates and general corporations since the beginning of January 2010. The move follows a Government request for dollars to be sold to help stabilize the foreign currency market. The information was released by the deputy governor of the State Bank of Vietnam Nguyen Dong Tien [...]
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December 25, 2009
LookAtVietnam – Deputy director of the Market and Price Research Institute Tran Dinh Anh sees the appreciating dollar as positive news for Vietnam. Deputy director of the Market and Price Research Institute under the Ministry of Finance Tran Dinh Anh In an interview given to Thoi bao Kinh te Saigon, Anh said: Thoi bao Kinh te [...]
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December 22, 2009
LookAtVietnam – The dollar exchange market has improved in the half month after drastic measures. However, the problems have not been settled completely. It appears that the black market has not been influenced so much by the drastic measures taken. The black market rate remains high, and is always 1,000VND higher than the price quoted [...]
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December 15, 2009
LookAtVietnam – The supply and demand of dollars is still far from balanced, despite strong commitments by SBV and commercial banks to sell dollars and stabilize the market. SBV has committed to sell foreign currencies to banks with shortages of minus five percent and higher. Meanwhile, the eight largest commercial banks have committed to sell [...]
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December 1, 2009
Though lending to people who bet on gold is a big source of profits for many banks, the directors of a certain bank are sounding a warning. Short sales & real obligations “It was thousands of speculators making short sales and then being forced to make a real purchase of gold that was the main [...]
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November 30, 2009
LookAtVietnam – International organizations have released reports lauding the decision by SBV to adjust the dong/dollar rate and basic interest rate. The International Monetary Fund (IMF) considers the move by SBV to be a positive signal about the government’s determination to tackle macroeconomic risks. “I think the decisions that they have announced … signal that they [...]
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November 17, 2009
VietNamNet Bridge – Both retailers and their customers are suffering from the sharp dollar price increases. Pointing to a HP DV3 computer, a shopper at Phong Vu in HCM City complained that its price had jumped 900,000 dong in one week. A salesman explained that it is because dollars now cost more. Phong Vu must [...]
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October 4, 2009
LookAtVietnam – Vietnam is facing a dollar shortage as a result of lackluster capital inflows this year, experts say. LookAtVietnam – Vietnam is facing a dollar shortage as a result of lackluster capital inflows this year, experts say, calling for adjustments to the exchange rate to ease the strain on the local currency market. The [...]
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October 3, 2009
A teller counts US dollar notes at an Asia Commercial Bank in Ho Chi Minh City. Vietnam is facing a dollar shortage as a result of lackluster capital inflows this year, experts say, calling for adjustments to the exchange rate to ease the strain on the local currency market. The foreign currency supply this year, [...]
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September 8, 2009
VietNamNet Bridge – Economists believe that widening the VND/US$ exchange rate trading band now would help ease dollar hoarding and boost exports. Will devaluing the dong rescue exports? In its assessment of export prospects, The National Socio-economic Forecast and Information Centre (NSFIC) has predicted continued unsatisfactory export performance if the State Bank of Vietnam does not [...]
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