The Government’s roadmap of fighting “dollarization” is on the right track, flexible and timely, Le Tham Duong, Head of Business at Ho Chi Minh city University of Banking told the online newspaper Dat Viet. Duong welcomed the State Bank of Vietnam (SBV)’s moves to raise dollar reserve requirements and cut dollar deposit interest rate cap, [...]
The Ministry of Planning and Investment has suggested a package 5 solutions to fight dollarization, the state run online newspaper VnEconomy reported March 20. Firstly, taking macroeconomics actions to raise the country’s forex reserves, actively regulating foreign exchange rates, avoiding big adjustments in exchange rates which may encourage hoarding dollar sentiment, diversifing foreign currencies to [...]
Dollarization in most economical sectors is one of the major factors causing instability in the foreign currency market. Dau Tu Tai Chinh Newspaper interviewed officials and economists about solutions for the issue. Nguyen Hoang Minh, Deputy Director of the State Bank of Vietnam’s HCMC branch Illegal foreign currency purchase on the so-called black market is [...]
The National Advisory Council On Monetary Policy has proposed the Government three steps to fight “dollarization†in Vietnam which may sharply affect the market, said Le Xuan Nghia, Vice Chairman of the National Financial Supervisory Commission. The National Advisory Council On Monetary Policy has proposed the Government three steps to fight “dollarization†in Vietnam which [...]
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