brave-ledger-verification=c6e7ae9820dff1923729e2a580efb43dfca7423b9cad80885864c1acc8eb2a22

Tag Archive for ‘Currency’

Vietnamese University Plans to Accept Bitcoin Despite Central Bank Ban

FPT, a private Vietnamese university is planning to accept tuition fees in bitcoin with a workaround of the central bank’s ban on using cryptocurrencies as payment instruments. FPT University is a private academic institution with campuses in Ho Chi Minh City, Hanoi and Da Nang, Vietnam’s three major cities. The university will soon begin accepting […]

Vietnam Bans Bitcoin as Payment Method; Adopters Face USD$9,000 Penalty

Vietnam’s central bank has ruled that cryptocurrencies like bitcoin are prohibited as a method of payment in the country. The State Bank of Vietnam (SBV), Vietnam’s central bank, has completed developing a legal framework for cryptocurrencies in the country following orders by Vietnamese Prime Minister Nguyen Xuan Phuc earlier this year. In a newly released […]

Vietnam’s eight-month credit growth rate touches 11.5%

Credit growth rate in the first eight months of 2017 has been estimated at 11.5% compared to the end of 2016, the National Financial Supervisory Commission (NFSC) reported. As per the report, this figure is 1.3 percentage points higher than the first eight months of 2016. Short-term loans rose by 14.1%, accounting for 45.9% of […]

Experts divided on recognizing bitcoins, Vietnam central bank says no

Hundreds of thousands of retail points in Japan are accepting payments in bitcoin for both online and on-the-spot transactions. The Vietnamese government has approved a plan for a legal framework to manage and deal with electronic money, virtual assets and currencies. This has raised hopes that bitcoin and other virtual currencies would be accepted for […]

Vietnam to establish legal framework to manage virtual assets and digital currency

Prime Minister Nguyen Xuan Phuc has assigned the Ministry of Justice (MOJ) to establish a legal framework to manage virtual assets and digital currency. Accordingly, the MOJ is tasked with reviewing the current status of laws concerning virtual assets and digital currency in Vietnam and examining international experience in a number of economies such as […]

VND expected to see end-of-2017 dip

The Vietnam dong is expected to depreciate by two percentage points at the end of 2017, ending a period of stability that lasted throughout the year. Since the start of this year, the USD/VND exchange rate remained relatively stable, hovering around VND22,700 to the dollar. However, this period of calm is likely to end soon, […]

Vietnam’s Five-Year Yield Falls to Two-Month Low on Bank Buying

Vietnam’s benchmark five-year bonds rose, sending the yield to a two-month low, on speculation banks bought the notes amid a slowdown in credit growth. The dong was steady. The value of outstanding loans in Vietnam may grow 5 percent this year, Central Bank Governor Nguyen Van Binh said in a televised address to the National Assembly in Hanoi yesterday, lagging behind a 14.4 percent increase in 2011, according to government data. Banks have bought 183 trillion dong ($8.87 billion) of government bonds this year, “a lot more” than in previous years, Binh said. The yield on the benchmark notes fell eight basis…

Vietnam Putting an End to Dollarization

According to schedule, to 2015 – 2016, deposits and loans in foreign currency will be fully terminated in the Vietnam market. According to the roadmap against the gold and dollarization of the Vietnamese Government, gold influence will be demolished by 2012 and dollarization by 2015. ‘Goldization’ should have ended on November 25 last year, but […]

Vietnam lawmakers debate ways to reinvigorate economy

HA NOI (VNS)– Questions about how to provide businesses with access to loans, settle bad debts, manage the gold market and ensure dam safety fueled a heated question and answer session yesterday between National Assembly deputies and Government officials. Answering a question about the gap between world and domestic gold prices, State Bank of Viet Nam governor Nguyen Van Binh said that when the domestic gold price went up, the government in the past had to import gold to stabilize the market, which could negatively affect foreign currency reserves. He said the government had…

Vietnams Initial Success In Macroeconomic Stabilization

Vietnam has achieved a degree of macroeconomic stabilization,but ANZ warns the shift to a banking system viable over the long term will still take time and continue to impact growth prospects. * Commercial banks start to loosen purse strings * Bad debts are falling, says central bank * New regulations place restrictions on bank listings […]