Vietnam Bank News

Vietnam Bank Directory

Trade ETHUSD, Bitcoin and Cryptocurrencies

BUY & SELL ETHUSD | View ETHUSD News & Updates


Buy Sell ETHUSD, Bitcoin and Cryptocurrencies

Banking News & Financial Services News
Get the latest banking news headlines from Vietnammarkets.com. Find in-depth Vietnam coverage from banking, investing, financial, stock market, and more abou Vietnam banking system, bank for industry and trade, Vietnam banking sector.

Banks to Buy US$1.27 Bln Compulsory Treasury Bills   2008-02-16 - ftps

The State Bank of Vietnam (SBV) has decided to issue compulsory treasury bills worth of VND20.3 trillion (US$1.27 billion) in the local dong to 41 banks, a move to tighten monetary policies to rein in ongoing soaring inflation.

The cash withdrawal is expected to help Vietnam control inflation.

The State Bank of Vietnam (SBV) has decided to issue compulsory treasury bills worth of VND20.3 trillion (US$1.27 billion) in the local dong to 41 banks, a move to tighten monetary policies to rein in ongoing soaring inflation.

The purchase of the bills is compulsory toward credit institutions. The buy value is based on size of the institutions.

The bills have a maturity of 364 days and an interest rate of 7.8% per annum. The date of issue is on March 17, 2008 and the date of maturity is on March 16, 2009.

The state bank said “This move will have certain influence on capital supply/demand. However, the impact will be little because the interest rate and maturity are reasonable.”

The bank will closely supervise the impacts and monetary market movements to introduce suitable measures to avoid wild fluctuations.

According to experts, the withdrawal of the local dong (VND) in large value will push up the price of VND. Currently, the VND/USD exchange rate is VND15,957/USD.


Other Banking News

Banks mired in deposit interest rate war   2008-02-16

Sacombank says January profit soared 157 percent   2008-02-16

ANZ Bank Forecasts 8.9% Inflation in Vietnam   2008-02-16

Ha Noi banks predict 40% growth   2008-02-12

Bank Directory

ATMs overloaded as Tet nears   2008-02-05

City banks seek sustainable growth   2008-02-05

Commercial banks expect tough road ahead   2008-02-04

BIDV finances Crown Plaza complex in Ha Noi   2008-02-04

HSBC Survey Forecasts Vietnam, Indian Growth   2008-02-02

Singapore, Viet Nam state banks ink deal   2008-02-01

State Bank raises prime rate   2008-01-31

State Bank rethinks controversial securities lending cap   2008-01-30

Banks set for new deposit interest war   2008-01-29

Central Bank sets limits on local gold production   2008-01-28