Vietnam to allow major banks to increase gold positions
State media says central bank aims to reduce gap between global and domestic prices of precious metal
Vietnam’s central bank is to allow eight major banks to increase their gold positions, reports said today (November 17).
According to a government-run news outlet, the State Bank of Vietnam (SVB) said it would raise the limit of the end-of-day gold position for accredited lenders from 2% to 5% of their capital. The changes would apply to eight banks that are currently permitted to refine, import and export gold: Vietcombank, VietinBank, BIDV, Agribank, Techcombank, MB Bank, VPBank and ACB.
The SVB
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