Vietnam proposes lifting gold ban to stem inflation
Nguyen Quang Huy, the head of foreign-exchange management at the State Bank of Vietnam, on Thursday said the central bank could lift a ban on gold imports to address shortages of the metal and help stem inflationary pressures in the economy.
If domestic gold prices "rise unreasonably," businesses "may be allowed to import gold" in appropriate quantities and at appropriate times "to stabilise the domestic market price," bringing it closer to world gold prices, Nguyen said.
Gold peaked at $1,363
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