3:14:43 PM | 26/11/2010
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)
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