In its first gold auction since 2013 the State Bank of Vietnam is set to make available about 630 kilograms of gold for banks and financial firms to bid on, VN Express is reporting. The online publication is also saying that the SBV intends to import more gold to fill the gap–this will need to be purchased in US dollars and will likely add pressure to the dong. It’s not clear how the SBV intends to manage this scenario should it arise.
State Bank of Vietnam to kick off gold auctions with 630 kilos of gold
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