Vietnam central bank allows forex swaps, sets 8 pct rate

Banks in Vietnam short of short-term Vietnamese dong funds could use foreign exchange swap deals with the central bank to meet their needs, the State Bank of Vietnam said.

The annual swap rate is 8 percent and banks licensed to trade in foreign exchange are allowed to conduct swaps, subject to central bank permission, the State Bank of Vietnam said in a letter sent to banks and seen by Reuters on Tuesday.

Reuters, thanhnien

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