Foreign currency convertible bond

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State Bank of Vietnam (SBV) has continuously bought in hard currencies in the past few months, raising the country’s foreign reserves to a record high of US$63 billion. SBV has bought in $32 billion worth of hard currencies in the past more than two years Mai Tiến Dũng, Minister and Chairman of the Government Office, announced this at a recent press conference following a monthly Cabinet meeting. SBV bought in $32 billion worth of hard currencies in the past more than two years, Dũng said. According to experts, SBV has also changed its way of purchasing foreign currency. Instead of using spot trade, the central bank has used futures contracts for the purchase of hard currencies since February 7 this year. Previously, the bank bought foreign currency in spot trade, with volumes reaching $1-3 billion per day, meaning that an equivalent volume of Vietnamese đồng was pumped into the market in a short time. But since February, the bank has launched … [Read more...] about VN’s foreign reserves reach record high of US$63b

In response to this development, VietinBank is proud to be granted the award “Best Foreign Exchange Provider” in Vietnam for 02 consecutive years by the prestigious world finance magazine Global Finance. Top of leading Bank in Foreign Exchange Market With the orientation promoting the foothold of VietinBank in the Foreign Exchange market as well as applying a lot of synchronous and effective business solutions, the Foreign Exchange operation of VietinBank achieves good results and gains strong growth, being one of the two leading banks in Vietnam Foreign Exchange market. In terms of Foreign Exchange turnover and market share, for the time being, VietinBank is leading the way in the interbank market as well as being one of the two largest banks about market share in the first market with market share accounting 13 - 15%. By the end of 2018, Foreign Exchange turnover ramped up more than 260% and profit went up by 300% compared to the year 2012. Up to August 2019, Foreign … [Read more...] about VietinBank, the Best Foreign Exchange Provider in Vietnam

At the signing ceremony between the two banks (source: https://www.bi.go.id) Hanoi (VNA) – The central banks of Malaysia and Indonesia on September 27 signed a currency swap agreement, which allows the exchange of local currencies between the central banks of up to 2 billion USD. Bank Negara Malaysia (BNM) said that the effective period of the agreement was three years and it could be extended by mutual agreement of the central banks. According to a joint statement issued by the two sides, the agreement will enable both central banks to access foreign currency liquidity from each other if needed, and contribute to efforts to support the wider usage of local currencies to facilitate economic cooperation between the two countries. The two banks also signed a Memorandum of Understanding (MoU) to promote closer cooperation on innovation in payments and digital financial services, as well as supervising anti-money laundering and counter financing for terrorism./. VNA … [Read more...] about Malaysia, Indonesia sign 2-billion-USD currency swap deal

With great advantages being held by foreign banks, Vietnamese banks find it difficult to compete. Woori Bank has received permission from the State Bank of Vietnam (SBV) to open five branches in five cities and cities. Once the South Korean bank completes the opening of the branches, it will have 14 branches in Vietnam, though it has been operational in Vietnam for only three years. Citibank NA HCMC Branch, for example, has received permission to carry out a series of new operations, including corporate finance consultancy, corporate bond trading, money trading brokerage, e-wallet and investments in government bond futures contracts. Citibank NA HCMC Branch, for example, has received permission to carry out a series of new operations, including corporate finance consultancy, corporate bond trading, money trading brokerage, e-wallet and investments in government bond futures contracts. Kim Chi  Vietnam's banking sector sees series of M&A deals Many M&A deals in … [Read more...] about Foreign and Vietnamese banks in hot race