JJLL
03-20-2007, 09:52 AM
http://vietnamfinancialmarket.com/?act=article&id=1124
Forex inflows leave state bank to buy back millions
( Ngày gửi: 04/01/2007 )
14:32 PM, Thu 01/04/2007 source: Thanhnien News
(HCM, Vietnam) The State Bank has purchased an estimated US$140 million from commercial banks within the last two days to reduce the surplus of currency, said bank officials.
Recently, Vietnam has seen a strong foreign currency inflow, such that commercial banks are ending up with more forex than government legislation permits.
"A bank manager said banks were focused on buying foreign currency from exporters and had raised dong rates to ease demand because Vietnamese laws limit the amount of foreign currency banks can hold."
Forex inflows leave state bank to buy back millions
( Ngày gửi: 04/01/2007 )
14:32 PM, Thu 01/04/2007 source: Thanhnien News
(HCM, Vietnam) The State Bank has purchased an estimated US$140 million from commercial banks within the last two days to reduce the surplus of currency, said bank officials.
Recently, Vietnam has seen a strong foreign currency inflow, such that commercial banks are ending up with more forex than government legislation permits.
"A bank manager said banks were focused on buying foreign currency from exporters and had raised dong rates to ease demand because Vietnamese laws limit the amount of foreign currency banks can hold."