Trang Chủ
This statement was made by Governor Nguyen Van Binh on October 31 at the current session of the 13th National Assembly. He added that the plan on management of the domestic gold price has been implemented in such three steps as (i) formulating the legal framework; (ii) terminating gold mobilization and lending by credit institutions ; and (iii) full transition to the gold trading relations.
The SBV Governor stated that the implementation of the plan has obtained positive results. In particular, he said, the Government issued two Decrees (Decrees 24 and 95) which govern operations in the domestic gold market. As a result, he asserted, people have no longer rushed to buy gold in the domestic market and the exchange rate has remained stable in spite of the gold price fluctuation.
Moreover, he went on, from the beginning of this year, commercial banks have bought around 60 tones of gold from individuals; and the SBV has been able to buy about USD 10 billion to increase international reserves, hence resulting in the transfer of a total of about USD 13 billion from gold and foreign currencies into VND for economic stability and development.
In addition, the SBV Governor remarked that the management of gold bars is in line with the Government’s directives and all arising problems would be solved as soon as possible.
