gold at historic peak auctions receive lukewarm reception

Gold at historic peak, auctions receive lukewarm reception

Gold prices reached a historic peak last week after consecutive auction sessions held by the State Bank of Vietnam (SBV) were met with lukewarm enthusiasm.
exchange rate pressures could affect interest rates

Exchange rate pressures could affect interest rates

The VND/USD exchange rate has increased by 4.9 per cent since the beginning of the year, compared to an increase of 2.6 per cent for the whole of 2023. This exchange rate pressure is expected to lead to an increase in interest rates, according to the State Bank of Vietnam (SBV).
vietnam should explore tax on gold investments amid auction strategy expert

Vietnam should explore tax on gold investments amid auction strategy: expert

This week, the State Bank of Vietnam (SBV) orchestrated a gold bar auction to stabilise the gold market. Prof. Tran Tho Dat, an economic advisor to the prime minister, mentioned that in addition to the auctions, allowing gold imports and imposing taxes on gold investment activities were necessary measures.
vietnam central bank postpones gold bar auction

Vietnam central bank postpones gold bar auction

The State Bank of Vietnam was to auction 16,800 taels of gold bars, branded by Saigon Jewelery Company (SJC), on the morning of April 22. However, an hour before the bid opening time, the central bank announced it was postponing the auction as there were not enough members to participate in the bidding and transfer deposits.
sbv outlines restructuring plans for troubled scb

SBV outlines restructuring plans for troubled SCB

During a press briefing on April 19, Dao Minh Tu, Geputy Governor of the State Bank of Vietnam (SBV), detailed the government’s strategy for aiding the beleaguered Saigon Commercial Bank (SCB).
central bank to resume gold bar bidding after 11 years

Central bank to resume gold bar bidding after 11 years

The State Bank of Vietnam (SBV) will resume gold bar bidding after 11 years, aiming to increase the supply of gold to the market, promptly and immediately settle the high difference in domestic and international gold prices, thus ensuring the gold market operates in a safe and stable, healthy, open, transparent and effective manner in accordance with the Prime Minister's direction.
sbv to increase gold bar supply to stabilise domestic market

SBV to increase gold bar supply to stabilise domestic market

The State Bank of Vietnam (SBV) will increase the supply of gold bullion to handle the existing huge difference in domestic and world gold prices, SBV Deputy Governor Pham Thanh Ha told the press on April 12.
pm demands strengthened gold market management

PM demands strengthened gold market management

Prime Minister Pham Minh Chinh has asked the State Bank of Vietnam (SBV) to keep a close watch on international and domestic gold prices, and put in place measures and tools in a timely and effective way to regulate the gold market in line with regulations.
banks post huge profits despite low credit growth

Banks post huge profits despite low credit growth

Credit growth throughout the banking sector in the first quarter remained low at 0.26 per cent, but many banks still reported significant profits.
exchange rates hover near historical highs

Exchange rates hover near historical highs

Substantial foreign investor outflows from Vietnam’s equity markets might prompt the central bank to introduce measures to stabilise exchange rates, facing heightened volatility.
forex market under significant pressure

Forex market under significant pressure

Large fluctuations in the forex market in the early months of this year have been contributed to several internal factors. Economic experts believe that measures so far have been insufficient, and market-driven interest rates are forecasted to rise in the near future.
pm urges further rate cuts improved credit access to remove obstacles promote growth

PM urges further rate cuts, improved credit access to remove obstacles, promote growth

Prime Minister Phạm Minh Chính chairs the meeting to implement monetary policy management tasks in 2024, which focuses on removing difficulties for production and business to promote growth and ensure macroeconomic stability.
pm urges enhancing credit access absorption to fuel growth

PM urges enhancing credit access, absorption to fuel growth

Prime Minister Pham Minh Chinh on March 14 chaired a conference launching this year’s monetary policy-related tasks to tackle production and business obstacles, facilitate growth, and maintain macro-economic stability.
exchange rate sparks debate on volatility

Exchange rate sparks debate on volatility

The State Bank of Vietnam’s central exchange rate adjustment has reignited conversations about potential volatility in the currency market.
cashless payments surge by over 63 per cent

Cashless payments surge by over 63 per cent

Non-cash payment transactions increased by 63.3 per cent in volume and 41.45 per cent in value in January, compared to the same period last year, the State Bank of Vietnam (SBV) has announced.