Though applauding the decision by the State Bank of Vietnam to require higher compulsory reserve ratio for foreign currency deposits, bankers still have doubts that the decision would be able to ease the demand for dollar loans. The State Bank of Vietnam has decided to raise the compulsory reserve ratio for the deposits in foreign [...]
The State Bank of Vietnam (SBV) has announced the interbank average forex rate today Thursday September 1 at 20,628 dong/US dollar, remaining unchanged for the ninth consecutive day. Accordingly, the ceiling forex rate of commercial banks will be 20,834 dong/US dollar. The forex rate at the central bank’s transaction office (on August 31) was 20,600-20,834 [...]
Vietnam expects disbursements of foreign direct investment to rise by as much as 10percent in 2012 after forecasting it will be flat at $11 billion this year, Dang Huy Dong, Vice Minister of Planning and Investment said in an interview in Hanoi today The actual amount forecast to be disbursed compares to pledged foreign investment [...]
Foreign currency deposit rate ceiling coupled with dollar lending rate increases due to the State Bank of Vietnam (SBV)’s requirement on higher compulsory reserve ratios have dramatically driven up the foreign currency capital costs, signalling a future foreign credit squeeze. Earlier this week saw the release of orientation information on a range of monetary policies [...]
The State Bank of Vietnam (SBV) has announced the interbank average forex rate today Wednesday August 31 at 20,628 dong/US dollar, remaining unchanged from yesterday. Thus, the forex rate has been kept stable for eight consecutive days. Accordingly, the ceiling forex rate of commercial banks will be 20,834 dong/US dollar. The US dollar price at [...]
Vietnam ordered lenders to set aside more dollars as reserves for the third time this year, aiming to steady the national currency and quell Asia’s fastest inflation. The reserve-requirement ratio on U.S. dollar deposits will rise to 5 percent to 8 percent from 4 percent to 7 percent, effective September, the State Bank of Vietnam [...]
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