Vietnamplus

The banking system is racing against time as its major restructuring enters its last phase.

The State Bank of Vietnam (SBV) will keep a close watch on the developments of domestic and global macro economies and monetary markets to assure synchronous exchange rate management.

The State Bank of Vietnam (SBV) is reducing special control on three banks that it acquired with zero dong thanks to the banks' improving liquidity and business performance.

The State Bank of Vietnam (SBV)’s surprising decision to cut the interest rates on USD deposits on September 27 was welcomed by economic experts, who said the move was a step towards many goals.

The State Bank of Vietnam (SBV)’s latest move on lowering the USD deposit interest rates is expected to ease the pressure on the foreign currency market, finance-banking experts said.

The State Bank of Vietnam (SBV) has lowered the interest rates for USD deposits from organisations and individuals (excluding credit institutions and foreign bank branches).

According to the State Bank of Vietnam, in the first eight months of the year banking credit grew at 10.23 percent compared to 4.33 percent a year earlier.

Synchronous measures and monetary policy tools, including the selling of foreign currencies when needed, will continued to be employed to keep the VND's exchage rates within the allowed band.

The State Bank of Vietnam (SBV) issued Decision No. 1844/QD-NHNN on September 14 to officially approve the merger between the Southern Bank and Sacombank.

Foreigners buying or selling houses in Vietnam are required to carry out transactions through banks in the country and not in cash, the central bank has decreed.

The dollar pulled back a little on August 27 after the central bank promised no more devaluation is in the offing, with almost all banks reducing their selling rate by 25-35 VND.

The greenback rate remained at the ceiling price on August 25 despite the State Bank of Vietnam (SBV)’s August 24 announcement of no adjustment to the VND/USD rate through early 2016.

The State Bank of Vietnam (SBV) will not make any further adjustment to the Vietnam Dong/US Dollar exchange rate this year, SBV Deputy Governor Nguyen Thi Hong said.

International organisations lauded the exchange rate and amplitude adjustments made by the State Bank of Vietnam (SBV) as a timely and appropriate move to cushion external shocks.

Nguyen Thi Hong, Deputy Governor of the State Bank of Vietnam (SBV), on August 19 met the media to explain the SBV’s decision to raise the interbank USD/VND exchange rate.

The State Bank of Vietnam (SBV) has requested commercial banks to strictly implement a Government support credit lending programme which aims to help famers and businesses operating in agriculture.

Vietnamese export enterprises said they are not likely to be affected by the State Bank of Vietnam (SBV)’s adjustment of the average inter-bank exchange rate between the VND and USD.

Commercial banks altogether spiked the US dollar price after the State Bank of Vietnam (SBV) increased the average inter-bank exchange rate between the Vietnamese dong (VND) and the USD.

The SBV’s recent adjustment of the VND/USD trading band up by 1 percent is a timely and sound response to the currency market’s movement amid the Chinese yuan's sharp weakening gainst the US dollar.

The SBV recently requested commercial banks to strictly implement a Government support credit lending programme which aims to help famers and businesses minimise their post-harvest losses.