SBV - the only agency allowed to export gold

The State Bank of Vietnam (SBV) is drafting a decree aimed at regulating the gold market in a flexible manner and controlling gold trading according to the market-based mechanism, said SBV Governor Nguyen Van Binh.

Under the draft decree, SBV is the only agency in Vietnam which is allowed to export and import gold .

SBV may also authorize selected businesses to export gold, Binh said.

He added that gold export-import should now be considered a regular activity of the economy.

Regarding the foreign exchange rate, the Governor emphasized the SBV’s efforts to stabilize the value of the Vietnam dong, or led it appreciate a bit more.

vovnews

>   Major gold dealers allocated import quotas (11/08/2011)

>   Gold prices exceed VND45.5 million/tael (09/08/2011)

>   Dollar rises, dong weakens on gold hoarding (09/08/2011)

>   State Bank allows 5-ton gold imports (09/08/2011)

>   Vietnam’s central bank willing to allow gold imports (09/08/2011)

>   Gold hits record high amid rising world prices (08/08/2011)

>   Gold nears VND42 mln despite world standstill (08/08/2011)

>   Vietnam witnessing “gold industry crisis”? (06/08/2011)

>   Gold not to retreat below VND40 mil per tael, say experts (05/08/2011)

>   Gold sets all-time fresh record: VND41.3 mln (04/08/2011)