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Economy, Currency and Banking

State Bank of Vietnam, credit policies, money supply, foreign currencies, foreign banks

Vietnamís national monetary unit is the new dong, which is divided into 100 xu (14,168 new dong equal U.S.$1; 2000 average). Until 1990 the only banking system within the country was The State Bank of Vietnam, with its headquarters in Hanoi. In 1990 the government established four independent commercial banks (for foreign trade, investment and construction, agricultural development, and industry and commerce) and allowed foreign banks to operate. The State Bank continues to perform general supervisory functions; it also controls the money supply and credit policies. The Bank of Foreign Trade is authorized to handle foreign currencies.



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State Bank of Vietnam, credit policies, money supply, foreign currencies, foreign banks, agricultural development, Hanoi, xu, banking system, commerce, headquarters, average, investment, government, construction, country, industry

 
 

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