Tiếng Việt
Biz Directory
| 1. Agribank Category: Banking City: Ha Noi Image: |
| 2. DOJI Gold & Gems Group Category: Jewellery City: Hanoi Image: |
| 3. BIDV Bank Category: Banking City: Ha Noi Image: |
| 4. Sacombank Group Category: Banking City: Ho Chi Minh City Image: |
| 5. Honda Viet Nam Category: Car Parts and Accessories City: Vinh Phuc Image: |
| 6. TechcomBank Category: Banking City: Ha Noi Image: |
Wednesday, 01 February 2012 10:55
The State Bank of Vietnam (SBV) will submit a plan to the Government to mobilise gold from individual people who hold an estimated at 300-500 tonnes.
The State Bank of Vietnam will submit a plan to the Government to mobilise gold from individual people who hold an estimated at 300-500 tonnes
This was revealed by Nguyen Van Binh, Governor of SBV, during an interview, which was posted on the SBV website on January 30.
According to the plan, credit institutions will act as agents to accumulate gold for the central bank. The Government will not directly intervene in the market, but through these institutions as intermediaries.
In order to help curb speculation, the Government issued Decree 95, which levies fines for illegal foreign currency and gold transactions. This, it is hoped, will help stabilise the gold market.
According to Binh, the SBV is taking measures to improve liquidity in banks, with the goal of lowering interest rates this year.
Binh referred to the International Monetary Fund’s assessment, saying that if the country continues its monetary policies begun in 2011, inflation will be able to be brought down to 8-8.5 per cent this year. He added that it will also help to reduce deposit interest rates to around 10 per cent.
The SBV will also continue measures to stabilise exchange rates, Binh said, emphasising that without any unforeseen external shocks, the domestic currency should only lose a maximum 3 per cent of its value against the dollar in 2012.
Source: Dtinews
| < Prev | Next > |
|---|
» Viet Nam win gold at Asian chess event
» Gold now at the “T-junction”
» 14 banks requested to accelerate debt settlement
Latest Category Posts
- Banks rush to borrow money from foreign sources
- Gold now at the “T-junction”
- Moody's places SHB on review for possible ratings downgrade
- 14 banks requested to accelerate debt settlement
- Unable to push up lending, banks inject money in government bonds
- Banking restructuring is nothing to be feared
- Gov’t to have more fiscal, monetary maneuverability in 2012
- New SBV Deputy Governor to fast-track restructuring plans
- Vietnamese bankers earn millions of dollars a year
- Fiscal and monetary policies “on the same bed but have different dreams”
Popular Category Posts
- Vietnamese consumers now like to make payment with cards
- State Bank to monitor FDI loan reports
- VietinBank issues international bonds amid big challenges
- Foreign investors re-eye on VN’s bond market
- State Bank to lower deposit interest rate cap to 12%
- State-owned banks under pressure to improve efficiency
- Interest rate reductions cannot activate consumer credit
- Bank shares now the “aiming points” of investors
- Gold approaches VND45 million
- Vietnamese banks of regional stature – who are they?
- Pessismism at lower deposit rates
- Vietnamese banks welcome foreign CEOs
- Foreign bankers only want to team up with powerful domestic partners
- Dong/dollar exchange rate stabilizes, foreign capital returning
- Interest rates on the decline
- Measures aim to restrict bad debt
- Weak banks strive to attract foreign investors
- State Bank may lift deposit rate limit in June
- Risks remain in bank restructuring
- Vietinbank prepares overseas bond issuance
