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Day: June 9, 2024
State Bank of Vietnam says there is no shortage of gold
This comes in the context of a rush to buy gold in Vietnam after the State Bank announced it would start selling gold from its reserves at well-below market prices to try and close the gap between local and world gold prices. Previously, the State Bank had tried to auction off its gold to several gold companies and financial institutions but the price was set relatively high and interest from these institutions was lacklustre at best…
Several Starbucks have gone cashless in Vietnam
In terms of reducing the security risks associated with handling cash, this move by these Starbucks stores makes sense. As far as speed and convenience go, however, it’s not clear that this has been achieved. Of note, QR code transfers can sometimes take some time with multiple steps involved–logging to a bank account, scanning the code, approving the purchase etcetera.
Securities accounts in Vietnam reach almost 8 million but quality questionable
Of note, this is the total volume of accounts and Vietnamese investors can open accounts at more than one brokerage. With this in mind, in September. MB Securities closed the inactive accounts it had on file totalling 543,753 accounts. This was just one securities firm…
Q2 2025