JavaScript is off. Please enable to view full site.

Vietnam quashes currency replacement rumor

Vietnam quashes currency replacement rumor

Thursday, December 01, 2016, 10:30 GMT+7

The State Bank of Vietnam has issued a public warning denying false allegations that the country’s central bank plans to replace the existing currency with a new one.

Rumors of the swap began circulating last week, sparking fear amongst the public and triggering small-scale bank runs in some localities.

In the south-central province of Phu Yen, people rushed to withdraw money from local banks to purchase foreign currency and gold in fear of losing their assets once the currency swap took effect.

“Such a rumor is totally groundless and malicious,” Deputy Governor of the State Bank of Vietnam Dao Minh Tu said at a government meeting on Tuesday.

Tu cautioned the public against acting on such unfounded information.

“Introducing new currency is related to the national monetary security,” he said. “Our economy is in stable development so we should stay vigilant against such malicious reports.”

Nguyen Van Han, director of the central bank’s branch in Phu Yen, also rejected the rumor on Wednesday, calling on local residents to keep calm and avoid spreading the false information.

“We are working with relevant agencies to identify and punish the rumor-maker,” he said.

Like us on Facebook or follow us on Twitter to get the latest news about Vietnam!

TUOI TRE NEWS

More

Read more

;

Photos

VIDEOS

Vietnam’s Mekong Delta celebrates spring with ‘hat boi’ performances

The art form is so popular that it attracts people from all ages in the Mekong Delta

Vietnamese youngster travels back in time with clay miniatures

Each work is a scene caught by Dung and kept in his memories through his journeys across Vietnam

Experience summer sand-boarding in Mui Ne

Sand-boarding, a popular activity amongst local children in the coastal tourism town of Mui Ne in south-central Vietnam, is attracting hundreds of tourists to the Red Sand Dunes

Latest news