The State Bank of Viet Nam (SBV) decided to directly sell gold to four state-owned commercial banks from June 3 instead of organizing gold auctions, according to SBV Deputy Governor Pham Quang Dung.
The State Bank of Vietnam (SBV) is expected to sell SJC gold through four state-owned joint stock commercial banks as opposed to through auctions from June 3 with the aim of ensuring market stabilisation.
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Nearly 20 commercial banks in Vietnam have adjusted deposit rates since the beginning of this month, with most lowering rates, reported Vietnam News Agency.