Accordingly, the SBV requested the Ministry of Public Security, the Ministry of Finance and the Ministry of Industry and Trade to coordinate with the SBV and relevant authorities to strengthen market management. At the same time, promptly implement measures according to regulations to strictly handle violations of the law in foreign exchange and gold trading and service provision activities.

In particular, foreign currency exchange activities; receiving and paying foreign currency; one-way money transfer from Vietnam to foreign countries and payment for illegal gold transactions; buying and selling gold bars by stores without a business license to buy and sell gold bars.

Wine 6.jpg
The State Bank proposes to coordinate the management of the gold market. Photo: Nguyen Hue

Along with that, the State Bank requires gold trading organizations, especially gold bullion trading organizations, to strictly apply electronic invoices in gold trading transactions to enhance transparency, improve the effectiveness of supervision and management, and ensure the safe and effective operation of the gold market.

In addition, the State Bank also requested the above three ministries to coordinate in providing information on cases of smuggling and illegal transportation of foreign currency and gold across the border so that the State Bank can promptly deploy effective plans to manage the foreign exchange and gold markets.

At the same time, the State Bank sent a telegram to the directors of State Bank branches in provinces and cities regarding the management of foreign exchange and gold markets.

In the dispatch, the Governor of the State Bank requested the directors of the State Bank branches in provinces and cities to urgently strengthen the dissemination and request credit institutions and enterprises licensed to trade in foreign exchange and gold bars in the area to strictly comply with relevant legal regulations on foreign exchange management and gold trading activities.

Urgently coordinate with local authorities (police, market management, tax...) to strengthen inspection and strictly handle violations of the law in business activities and provision of foreign exchange and gold services.

To the People's Committees of provinces and cities, the State Bank of Vietnam requests to strengthen the dissemination and dissemination to relevant agencies, departments, organizations and individuals in the area of ​​the provisions of the law on foreign exchange and gold management; the directions of the Government and the Prime Minister on urgent issues on the management of foreign exchange and gold market activities for serious implementation.

Gold price today, June 7, 2024: Only 4 million higher than the world, SJC stops plummeting Gold price today, June 7, 2024, on the international market increased to the highest level in two weeks after the European Central Bank cut interest rates. SJC gold price remained below 77 million VND/tael (sold), only 4 million VND/tael higher than the world.