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VCSC Daily - The SBV increased the refinancing rate by 1% and allowed gold trading to resume

Though it may be too early to say whether the Central bank will be successful in stabilising the foreign exchange rate, at least the SBV has moved to the right direction. Friday, both the foreign exchange and gold markets responded positively to the SBV’s move, registering a slightly appreciation in the dong and closing the gap between domestic and international gold prices.