» The State Bank

The State Bank of Vietnam pumped VND71 trillion into the market in the last two weeks before the Tet festival. The central bank’s supply of money through open market operations in January, which helped improve the liquidity of commercial banks, will not fuel inflation, an official says. A relatively large amount of cash...

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    Street vendors ply their goods in downtown Ho Chi Minh City. The Asian Development Bank has lowered Vietnam’s economic growth forecast in 2012 to 6.3 percent from 6.5 percent forecast last September. With the world economy remaining mired in difficulty, the...

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Vietnam's inflation is expected to slow to about 9 percent in 2012 and is under control, Prime Minister Nguyen Tan Dung told the Consultative Group. Vietnam may undermine progress toward economic stability if it loosens monetary policy now, the International Monetary Fund and World Bank said as the nation struggles with...

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  Wiping out small banks should not be the goal of banking reform A customer exits a branch of Joint-Stock Commercial Bank for Foreign Trade of Vietnam, or Vietcombank, in Hanoi. Bad debts at local banks are rising, raising concerns about the safety of the whole banking...

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  Vietnam’s central bank increased its refinancing rate for the first time since May, as the nation tries to steady its currency and tame Asia’s fastest inflation. The State Bank of Vietnam raised the refinancing rate to 15 percent from 14 percent, effective Oct. 10, it said in a statement on its...

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  Vietnam’s central bank said it will raise compulsory reserve ratios for foreign currency deposits from next month, the third increase this year as it strives to shore up the local currency and discourage the use of dollars. The move will effectively make it more expensive for banks to deal in dollars,...

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Many banks with suplus cash are pouring money into the bond market. Low interest rates on dollar loans are attracting businesses. More than ever before, firms are opting for the foreign currency in a bid to escape escalating dong rates. But economists warn that exchange rates will jump in the coming months, when the central...

Tags: Central Bank, Commercial Banks, Dollar Loans, Foreign Currency, Foreign Currency Reserves, Interest Rates, The Central, The Central Bank, The State Bank

As of June 10, credit had expanded 7.05 percent compared to the end of last year The central bank has increased its foreign exchange reserves due to an improving trend in the balance of payments and recent measures to support the local currency, Governor Nguyen Van Giau said. It had not been easy to increase the reserves...

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The State Bank of Vietnam is trying to keep credit growth at below 20 percent this year. Vietnam’s central bank does not have any plan to cap lending rates as it is not a feasible move, Governor Nguyen Van Giau told the press on Thursday. “There have been suggestions but there are no policies yet,” Giau said,...

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  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 from May,...

Tags: Foreign Currency, The State Bank