Pursuant to the State Bank of Vietnam (SBV)’s decision on lowering the US dollar saving rate cap, from early June, almost big and small banks adjusted down the US dollar deposit rate at 2 percent per annum (p.a) for terms of from one month and longer. At SCB, the maximum interest rate of 2 percent [...]
Though some banks committed to sell out their quotas, people who demand to buy US dollars in cash are still having difficulties even after paying a fee, the local newswire VnExpress reported. On March 22, Mr. Quang at the My Dinh new urban area, Hanoi told that he went to almost five banks to buy [...]
Despite the state’s ban on listing prices in foreign currencies, especially US dollars, and the threat of stricter enforcement against violations, many businesses in Ho Chi Minh City these days still list their prices of goods and services in the dollar. This is common at travel companies, tourist resorts, beauty parlors and motorbike shops. Listing [...]
The volume of U.S. dollars flowing into commercial banks in Vietnam has increased following the crackdown on the black market. Since March 6 the State Bank of Vietnam and police and market officials have raided many unauthorized foreign-exchange counters around the country, especially in big cities. As a result, people have shifted forex transactions from [...]
The volume of US dollars flowing into commercial banks has increased following the crackdown on the black market. Since March 6 the State Bank of Vietnam and police and market officials have raided many unauthorised foreign-exchange counters around the country, especially in big cities. As a result, people have shifted forex transactions from the black [...]
The State Bank of Vietnam (SBV) has released an updated report on the banking operations in the first month this year whereby the total balances of deposits at credit institutions decreased, credit growth in US dollar still surged while both deposit and lending activities in dong fell. In particular, the total deposits of customers at [...]
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