Vietnam Central Bank to Withdraw VND30 Tln by September
The State Bank of Vietnam, the central bank, will complete withdrawing VND30 trillion (US$1.875 billion) from state-owned commercial banks by the end of September this year in a bid to curb inflation, a SBV official who declined to be named said on April 14.
The central bank and the State Treasury had a meeting last week to work out a roadmap of withdrawal, he told the Investment newspaper.
The sum will go back to SBV at latest in November this year, he added.
However, SBV and the State Treasury will meet and decide the final sum within this month.
In recent weeks, the rumor about SBV’s withdrawing VND52 trillion have made headlines in local media, prompting stock players to sell off on fear of low liquidity and cause Vietnam’s stock market index to fall back to 539.01 points last week. (Investment)
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