The Ho Chi Minh City office of the State Bank of Vietnam has started scanning commercial banks in the city to penalize banks selling the greenback beyond the cap of VND19,500 by charging add-on fees.
The move came after the SBV received complaints from local firms claiming that commercial banks in the city have recently charged different service fees to dollar buyers, boosting up implied dollar prices near those at the black market, Nguyen Hoang Minh, deputy director of the branch, told Tuoi Tre.
Based on disclosed information by local firms, the central bank will immediately check local lenders that are believed to violate the dollar sales rule.
The SBV also said any gold shops trading dollars without licenses will be fined and forced to sell dollars to the banks.
The move came after the SBV received complaints from local firms claiming that commercial banks in the city have recently charged different service fees to dollar buyers, boosting up implied dollar prices near those at the black market, Nguyen Hoang Minh, deputy director of the branch, told Tuoi Tre.
Based on disclosed information by local firms, the central bank will immediately check local lenders that are believed to violate the dollar sales rule.
The SBV also said any gold shops trading dollars without licenses will be fined and forced to sell dollars to the banks.
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