From October 1 lenders including banks will not be allowed to provide medium- and long-term foreign currency loans to businesses to pay for imports. — Photo cafef.vn From October 1 lenders including banks will not be allowed to provide medium- and long-term foreign currency loans to businesses to pay for imports. Many market observers said this is the State Bank of Viet Nam’s final step in its fight against dollarisation. Experts said the anti-dollarisation campaign has been on the right track. The level of dollarisation in the economy has been steadily declining in recent years. According to the National Finance Supervision Council, as of the end of May last year outstanding loans in the đồng amounted to 91.9 per cent of the total. The financial statements of some banks show the ratio of their foreign currency deposits to total deposits dropped sharply in the first half of this year. For the three large State-owned banks, Vietcombank, Vietinbank and BIDV, they slid by US$500 million. Vietcombank’s foreign currency deposits decreased by $316 million to $5.83 billion though total deposits increased by 8.6 percent to VND870.86 trillion ($37.37 billion). Experts attributed the success in the fight against dollarisation to the central bank’s smart… Read full this story
- The Latest: Virgin Galactic enters 'home stretch' of tests
- Viet Nam transforms secondary towns into more competitive tourism...
- 'The Hollywood Reporters,' Ep. 7: Entering the Home Stretch of the Oscar Race (Video)
- Chính thức mở đơn đăng ký cuộc thi doanh nghiệp du lịch sáng tạo Việt Nam 2019
- Thể lệ cuộc thi viết 'Việt Nam
- Quy chế tổ chức Giải thưởng Du lịch Việt Nam năm 2019
- Giải pháp cho Du lịch Việt Nam và Du lịch Phú Thọ
- Du lịch Việt Nam trước vận hội mới
- Để Du lịch Việt Nam là lá cờ đầu của Đông Nam Á
- Hoạt động quảng bá du lịch của Việt Nam tại Bỉ
Viet Nam enters home stretch in fight against dollarisation have 364 words, post on bizhub.vn at September 30, 2019. This is cached page on VietNam Breaking News. If you want remove this page, please contact us.