State Bank of Vietnam

I think it's been an interesting month in that we are seeing more kind of assistance, more not necessarily handouts, but definitely some financial assistance for various tourism businesses across the region.

So Vietnam again, but the State Bank of Vietnam is basically easing credit loans for restaurants, hotels, tourism, ecotourism and resorts.

At the same time, in the Philippines, the Bureau of Customs is looking at introducing excise and VAT exemptions on aviation fuel.

So you've got these two that are kind of easing the travel situation.

On the dong, Vietnam is still quiet.

No new rate announcements, no public statements from the State Bank of Vietnam.

The chatter this morning says eight new currencies, including Iraqi dinar and Vietnamese dong, will hit the forex either Friday, Saturday, or possibly Sunday.

That's yesterday, today, or tomorrow.

On the dong, Vietnam remains quiet.

No new announcements overnight, no confirmed rate changes, no public statements from the State Bank of Vietnam.

One voice this morning said listeners will witness a life they've never lived before, and those who took advice about currencies, especially Vietnam or Venezuela, will be thankful they did.

That's encouragement, not confirmation.

On the dong, Vietnam remains quiet.

No new announcements overnight, no confirmed rate changes, no public statements from the State Bank of Vietnam.

The dong has been on a slow, managed crawl upward against the dollar for two years, small moves, nothing dramatic, the kind of thing central banks do to keep inflation in check and exports competitive.

Whether Vietnam is planning something larger, whether it's tied to what Iraq is doing, whether any of this is coordinated across multiple currencies in a broader reset all claim, none of it confirmed.

At the same time, the Ordinance on Foreign Exchange also requires that transactions, payments, quotations, price listings, and the recording of obligations within Vietnamese territory be carried out in Vietnamese Dong.

except for exceptions permitted by the State Bank of Vietnam.

For this reason, if a real estate company were to directly accept gold as payment for a home purchase or to record the value of an apartment in gold, that transaction would face very significant legal risk.

This is also why the model announced by Vinhomes was structured the way it was.

Because gold no longer functions as a means of payment, it is simply an asset that the customer converts into cash before entering into the real estate transaction.

Conditions for the trade gold for a home model to be considered lawful From a legal perspective, this policy can be envisioned as operating lawfully only if it simultaneously satisfies a number of conditions.

First, the gold sale and purchase transaction must be carried out by entities that meet the qualifying conditions or hold the licenses required under State Bank of Vietnam regulations.

For gold bullion, trading may only be conducted through credit institutions or enterprises licensed to trade gold bullion.

Real demand, real upward pressure on the dong.

And the State Bank of Vietnam has reportedly been running internal readiness drills on a controlled dong re-evaluation for weeks.

Can't confirm that independently, but if the FTSE upgrade is eight days out and the drills are happening, those two things fit together.

On the ZIM same bond SKR liquidity target for this week, same tier 4B notification window being discussed.