A representative of the State Bank said that this afternoon (April 19) it will announce the gold bidding policy for 15 organizations and businesses eligible to participate. The planned gold auction will take place next Monday (April 22).
At the press conference of the State Bank (SBV) held today, Mr. Dao Xuan Tuan, Director of the Foreign Exchange Management Department, said that, following the Prime Minister’s direction, in recent times, the SBV has carefully prepared work Gold bidding.
“This afternoon, the State Bank will announce its gold bidding policy for 15 organizations and businesses eligible to participate in the bidding. Bidding work will take place next Monday (April 22).” , Mr. Tuan said.
Regarding credit, according to the State Bank’s report, credit in March 2024 increased positively again after decreasing in the first 2 months of the year due to seasonal factors. By March 29, economic credit increased by 1.34% compared to the end of 2023.
The SBV manages the exchange rate flexibly, contributing to absorbing shocks, combined with issuing VND bills to reduce excess VND liquidity, thereby reducing short-term pressure on the exchange rate.
By March 29, the economy’s credit increased by 1.34% compared to the end of 2023. Photo: Hoang Ha.
Basically, market liquidity is smooth and legal foreign currency needs are fully met; Exchange rates fluctuate in accordance with market conditions and trends of international currencies compared to USD.
According to reports from commercial banks, by March 31, 2024, the average deposit interest rate of new transactions is 3.02%/year, down 0.5% compared to the end of 2023; The average lending interest rate of new transactions is 6.5%/year, down 0.6%/year compared to the end of 2023.
Regarding the exchange rate, sharing at the press conference, Deputy Governor of the State Bank Dao Minh Tu said that the State Bank manages the exchange rate flexibly, contributing to absorbing shocks, combined with the issuance of VND bills to reduce redundancy. liquidity in VND, thereby reducing short-term pressure on the exchange rate.
Legal foreign currency needs are fully met. Exchange rates fluctuate in accordance with market conditions and trends of international currencies compared to USD.
“The State Bank is ready to intervene in exchange rates if there are fluctuations, even right now,” the Deputy Governor emphasized.
In the coming time, the State Bank will continue to manage interest rates in accordance with market developments, macroeconomics, inflation and monetary policy goals; Flexible exchange rate management to stabilize the foreign currency market, contributing to macroeconomic stability; proactively manage credit growth to contribute to controlling inflation and stabilizing the macroeconomy.
