Posts Tagged ‘VnExpress’

Vietnam’s small change could disappear for good says economist

Posted: August 21, 2012 in Asian Currency Markets
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Vietnamese Dong

Use of small change has fallen as prices increase

Vietnamese notes and coins below VND5,000 (US$0.24) in value could die out in the market since price hikes make it hard for people to keep and use them in trading, an economist says.
Goods now fetch high prices, so trading with small change has fallen, Vu Dinh Anh told VnExpress Tuesday.

The report quoted a woman called Ha as saying: “I find small change worth nothing in our daily life, so I don’t want to receive it.”

Chuong, a resident of the capital city, said, “I ask vendors to keep the change of VND500-1000 because I cannot buy anything with it.” (more…)

Vietnam’s Central bank buys $6.23 bln for national reserve

Posted: April 11, 2012 in Asian Currency Markets
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VietFinanceNews.com – The State Bank of Vietnam has used around VND130 trillion to buy $6.23 billion worth of foreign currencies from banking systems for the national reserve.

The central bank has also sold some $100 million for the banking system, SBV Governor Nguyen Van Binh said at a recent meeting with the chairpersons and general directors of 14 Vietnamese commercial banks. (more…)

Vietnam Central Bank raises dong value to 20,628

Posted: August 24, 2011 in Iraqi Dinar/Politics
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Central bank raises US dollar prices

VietFinanceNews.com – The State Bank of Vietnam (SBV) on Wednesday raised the interbank average forex rate by VND10 to VND20,628 a US dollar after keeping it stable for 14 consecutive days since August 10.

This is the second hike this month after the VND10 a dollar rise on August 9 when the central bank officially approved the imports of 5 tons of gold to cool down the domestic market, extending the dong fall of 0.97 percent so far in August.

The bid and ask forex rate at the central bank’s transaction office today is VND20,600 and VND20,924 a US dollar, up 10 dong in the selling price and remaining unchanged for the buying price from yesterday.

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Vietnam may disclose foreign reserves data in 2012

Posted: May 16, 2011 in Asian Currency Markets
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MAY 16, 2011

VietFinanceNews.com – Vietnam, which has kept the precise level of its foreign reserves undisclosed, may publicize the data regularly next year via its national statistics office.

The General Statistics Office in Hanoi has announced a new national statistical indicator system which has 76 additional indicators, including statistics on money supply, credit, interest rate, budget deficit, government debts and foreign reserves.

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Vietnam: Economic recovery turns State attention to inflation control

Posted: February 10, 2011 in Asian Currency Markets
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VietFinanceNews.com – Minister of Finance Vu Van Ninh spoke to the website VnExpress about economic prospects for the year and the latest efforts to keep a lid on inflation.

What is the financial sector’s focus in 2011?

In 2011, the financial sector will unravel difficulties and hassles and help businesses accelerate production, business and export operations; tighten revenue management, and strictly punish tax-related violations. It will strive for budget revenue of 5 per cent more than planned.

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Vietnam to let market decide commodity prices

Posted: February 6, 2011 in Asian Currency Markets
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VietFinanceNews.com – The government will stop controlling prices of several key commodities this year, leaving them for the market to decide, says Finance Minister Vu Van Ninh.

The government will, “at a suitable time”, allow prices of commodities like electricity, coal, water and other important resources to be decided by the market, Ninh said in an interview published on news website VnExpress on Sunday.

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