Compulsory reserve ratio maintained in Vietnam

The Vietnamese central bank will not reduce the compulsory reserve ratio for foreign currency deposits of less than 12 months despite proposed amendments from some local banks since earlier in February 2001.

State Bank of Vietnam Deputy governor Tran Minh Tuan affirmed the central bank's tough stance at a meeting with directors of commercial banks in HCMC late last week [Feb 23]. Tuan said the ratio, 12% of the total outstanding deposits of less than 12 months, would be maintained to prevent

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