Vietnam: Where are the dollars?

After the state bank put downward pressure on the traditionally-high US dollar to Viet Nam dong exchange rate, the American currency’s recent rise has seen US notes go into hiding in Viet Nam.

Commercial banks are using their dollars sparingly.

Though they have raised the interest rate on dollar deposits up to 6% a year, many commercial banks still find themselves lacking US currency.

Although importers are willing to pay more than the official rate to get dollars, some banks do not have enough of the US currency to sell...

Full story: Vietnam Business Finance: Where are the dollars?