The State Bank of Vietnam allowed 2 more commercial banks to sell gold deposits to intervene the local gold market.
The banks were not yet identified.
The two banks were also permitted to open their international gold trading accounts as a hedge for their domestic gold selling.
Domestic gold demand on Oct 10 fell to 8,000 taels/ day, the lowest level since the SJC and 5 selected banks sold gold deposits under the agreement by the SBV, said Nguyen Cong Tuong, Deputy Dead of Gold Trading Department of the SJC.
Join
Asian Banking & Finance
community
Since you're here...
...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.
We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.
Let us help you drive your business forward with a good partnership!