Vietnam Central Bank Starts Scheme to Develop Monetary Market
The State Bank of Vietnam, the country’s central bank, yesterday started a scheme to develop local monetary market by 2020, with a focus on boosting liquidity and short-term capital circulation among market participants.
The scheme aims to enhance role of State bank in managing and monitoring the monetary market and create conditions to turn the market into a short-term capital wholesale and secondary storage channel.
Under the scheme, the SBV expects to build a centralized online floor for all monetary transactions on the market by 2020.
The SBV plans to retain operation of current monetary market as decentralized model from now until 2013. (SBV)
Vietnamese
