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Borrowing money to buy gold bars at banks. Is it banned?

Regulations and facts

Although the Circular No. 39/2016 / TT-NHNN dated December 30, 2016 of the SBV stipulates that lending activities of credit institutions and foreign bank branches have officially come into effect from March 15 / 2017 And based on Clause 4, Article 8 of Circular 39, credit institutions are not allowed to lend for capital needs to buy gold bars.

Pursuant to Clause 2, Article 15 of Decree No. 96/2014 / ND-CP, prescribing the sanctioning of administrative violations in the monetary and banking domains, prescribing a fine of between VND 15 million and 20 million for acts of failing to inspect and supervise the use of loans and loan repayments of customers according to the law.

The law is so, however, in fact, there is still a situation where some innocent bankers advise customers to borrow money to buy gold bars at their banks. As a customer walking around some banks asking about this issue, it is not difficult to encounter loans for the purpose of buying gold bars that occur every day.


Case 1: If you have a bank book of that bank, you can easily borrow and pledge to buy gold at that bank. The mortgage interest rate margin in banks ranges from 1 to 3% in addition to the interest rate on savings books. Specifically, if the interest rate on your savings book is 7% per year, then you will usually get a mortgage loan with an interest rate of 8 to 10% per year, depending on the bank and loan term. After disbursing, customers can take care of the money to buy gold right at the bank, even if they don't need to receive money, but they will deduct all the borrowed money to pay for the gold purchase. Thus, in this case, the bank staff fully know the purpose of borrowing customers is to buy gold bars. read more https://tygia.vn/ty-gia

In this case, many bank employees also do not know that they are violating the law. Because according to them, customers with savings books have the right to borrow. And after borrowing, what is their right to do, do not buy gold in credit-granting banks, can customers still go through other banks to buy, how can they control it? As a credit person, if you think and explain such a problem, you are looking down on the rules for the purpose of using capital and monitoring the use of customers' loans.

Case 2: customers only have a part of money, not enough to buy gold. And the bank staff advises clients on borrowing and mortgage with "the amount of gold formed in the future" (gold is formed by borrowing money to buy gold and using that gold itself to secure that loan) . In this case, if selling gold first or lending first is wrong. Accounting for selling gold first, at that time, customers did not have enough money. Also accounting for disbursement before, at the time of disbursement, customers do not have collateral for the loan. And it is important that the purpose of this case is still to borrow money to buy gold - which is also prohibited.

In fact there are still many other cases of loans to buy gold, but one way or another, lending to buy gold bars still takes place in banks. For the sake of simplicity, lending to buy gold will solve two goals at the same time, increasing debt balance and gold sales.

Loans to buy gold pieces: observations will be easy to detect

Although for loan applications for the purpose of buying gold bars often bankers do "beautiful" documents in accordance with regulations. In the dossier set, they have all the invoices and documents showing the purpose of using the capital "reasonably" by the customers. But "reasonable" doesn't mean legal. And the bank staff did not know that the auditing and banking companies had a lot of experience and professional sense to detect fraudulent and fake acts of credit officers. Specifically:

Firstly, based on the set of documents using customers' capital for loans. No matter how perfect it is to make the documents for the use of documents, everything is false and repetitive, many times there will be loopholes such as scraping, photo proof, the same day wrong month with time logic, ...

Secondly, for customers who borrow money to buy gold, the frequency of transactions in the week will be high, especially at times when gold prices fluctuate or increase. Therefore, the observant can base on the transaction history of disbursements at the sensitive time of the gold price to delineate the cases where customers use capital for wrong purposes (borrowing to buy gold bars).

Third, based on the client's transaction history during the day to detect. Normally, a customer who has just disbursed (often pledged or short-term loans) and at the same time paid for gold is obviously borrowing money for the purpose of buying gold bars. There is a more subtle case, thanks to relatives who are on the purchase of gold. But experienced bank officials also easily recognize this move, unless the bank staff also advises such customers.

Fourth, no matter how sophisticated the methods are, remember that all banks have cameras. In cases where customers borrow money, but do not actually receive cash and use the same amount to offset the purchase of gold, the image remains. At that time, even if your end-of-the-day documents are "pretty", the camera image will be an important evidence to confirm the wrong purpose of lending (to buy gold bars).

Closing the story of lending gold to buy and sell gold, many people probably remember the exchange of 100 USD fined 90 million VND by Mr. Nguyen Ca Rê in Can Tho. Although Mr. Nguyen Ca Rê's decision to sanction administrative violations was then not enforced. However, for bankers and banks, be very careful and alert with lending for gold bars


read more: https://tygia.vn/

Foreign exchange rate on February 28: USD continued to decline

The exchange rate of USD continues to decline sharply due to changes in the economic and political situation in the world. Especially the change in US-China relations over the past time. This has put a lot of pressure on America's greenback.

In the morning session, the USD exchange rate is lower than other major currencies in the market. The attractiveness of this currency is greatly influenced by many reasons. read more https://tygia.vn/

Before that, on the afternoon of February 27, the domestic foreign exchange rate recorded that all banks had a slight decrease in listing. The popular listing rate offered in the domestic market is VND 23,150 / USD and VND 23,250 / USD. Accordingly, the exchange rate of SCB listed the lowest buying price in the market when standing at VND 23,065 but sold in the highest listed banks at VND 23,260. This is also the selling price of USD exchange rate MBBank. The bank has a buying direction of VND 23,135 and sold VND 23,260. Meanwhile, the exchange rate of HSBC currently listed in the buying and selling way is VND 23,150 and VND 23,250 respectively. read more https://tygia.vn/gia-vang

The fact that the USD exchange rate chart has shown signs of going down in recent sessions is due to positive signals in the US-China relationship, making the Chinese yuan rise. This has put pressure on the US dollar.

In addition, information Theresa May - British Prime Minister will propose to these countries officially excluded Brexit without agreement at a meeting late yesterday. At the same time will open the opportunity to delay several weeks or months for the Brexit day, March 29 helped the pound to raise prices quickly. The developments related to Brexit will make this currency attract the attention of investors. Since then, the dollar has lost its attraction.

Besides, one reason that the USD exchange rate has a decreasing trend now comes from the gold market. This is still considered by investors as a "safe haven" although it has little profit. According to the general rules of the market so far, gold rising USD will decrease and vice versa. Therefore, in the current period, when gold is being favored, USD will be under a lot of pressure. It may have to wait until the US Federal Reserve (Fed) officially decides to raise interest rates in 2019 to help the USD exchange rate increase again. read more https://tygia.vn/ty-gia/shb

Foreign exchange rate on February 25

The US dollar index, which measures the strength of the greenback against a commercial weighted basket of six currencies, fell 0.14% to 96.33.

Members of the Federal Reserve continue to propose a balance sheet as a tool to combat developments in the labor market or inflation rate. In the past week, the dollar left the two-month peak reached last week due to investors' optimism about a trade deal between the US and China. read more: 


The Fed had strategic changes in January, signaling a halt to raising interest rates, ready to reconsider asset ownership plans to stabilize growth, without going through reinvestment policies. on these properties.

This is also the Fed's response to the signs of global economic slowdown. This step is completely different from the long-term suspension policies when the economy began to have instability of Fed under the control of Ms. Yellen. N

In the past year, the Fed has increased interest rates 4 times but the economy still has not felt its full impact.

On the positive side, through interest rate increases, the Fed still controlled the economy, such as fiscal stimulus immediately after President Trump's tax cuts reduced efficiency.

Besides, with the slow progress of the Chinese and European economies, as well as escalating tensions in the trade war will make more difficulties piling up.

The USD / GBP exchange rate increased by 0.16% to 1.3070 dollars from the low of 1.2969 dollars in the hope that the deadline to leave the European Union on March 29 will be pushed back. read more: 


European Union negotiator Michel Breier said it was not ruled out that the EU withdrawal would be delayed. The UK is seeking changes to Irish support.

EUR / USD exchange rate increased 0.11% to 1,1347 USD due to core consumer inflation in the EU in line with economists' forecasts.

USD / JPY rate dropped 0.05% to 110.64, while USD / CAD fell 0.64% to $ 1.3145.
The exchange rate at the State Bank of Vietnam has been bought at VND 23,200 (unchanged) and sold at VND 23,540 (unchanged).

Billion Vietcombank listed at VND 23,160 (buy) and VND 23,260 (sold). Vietinbank: VND 23,162 (buy) and VND 23,262 (sold). BIDV: VND 23,155 (buy ) and VND 23.255 (sold). ACB: VND 23,160 (buy) and VND 23,240 (sold).read more: 


Foreign exchange rate on February 18. USD cooled down

The US Dollar Index, a measure of the greenback's strength against other major currencies, closed the week at 96.92 points, up 0.29% from the previous week's close.

The exchange rate of euro against the greenback dropped 0.24% to 1.1296 USD. While the pound exchange rate dropped 0.3% to 1,2904 USD.

The USD exchange rate against the Japanese yen increased sharply by 0.67% to 110.47 yen. read more: https://tygia.vn/

In the past week, the greenback was actively supported after data on US core inflation was released. Accordingly, after excluding food and energy prices, the core CPI has increased by about 0.2% and is the 5th consecutive rising month of this index.

Data on inflation tends to have a positive impact on the greenback when it increases expectations The US Federal Reserve (Fed) will tighten monetary policy.

However, the dollar cooled down on the weekend as San Francisco Fed Chairman Mary Daly said the central bank may delay raising interest rates in 2019.

Besides, the dollar also weakened sharply on Thursday when US retail sales in December 2018 fell the most in more than 9 years, indicating a sharp decline in consumer activity which accounted for more than 2 / 3 US GDP by the end of 2018. Thereby supporting the slowing trend in the Fed rate hike process.

This week, the Fed is expected to announce the January meeting minutes on Wednesday (February 20), whereby interest rates will be maintained and reflect a "more moderate" view of raising interest. Future rates also provide information on inflation and increased risk for global economic growth.

In addition, some Fed officials include Fed President New York branch - John Williams and head of the Fed at St. John's. Louis - James Bullard will have a public speech this week. read more https://tygia.vn/ty-gia/mbbank

Besides, the United States and China are expected to resume the fifth round of talks this week in Washington (USA). According to White House Press Secretary, Sarah Sanders, the two countries "will continue to discuss all outstanding issues" before March 1.

"Any bad news from trade discussions between the US and China can also push the dollar exchange rate up again due to investor demand for safe-haven assets when the economy is there is a disturbance, ”said Chris Turner, head of foreign exchange strategy at ING.

Meanwhile, investors are waiting for a report on durable goods on Thursday (February 21) to update the health of the manufacturing industry. At the same time, a report on home sales published on the same day will give a concrete view on the housing market after the sector lost its momentum for growth at the end of last year amid bank interest rates. and increased asset value. read more 


Foreign exchange rate on January 30. The dollar dropped

The exchange rate at the State Bank of Vietnam has been bought at VND 23,200 (unchanged) and sold at VND 23,494 (unchanged).

At the beginning of the morning of January 30, most commercial banks kept the exchange rate of the US dollar today unchanged from the end of the previous session, popular at VND 23,150 (buy) and VND 23,240 (sell). .

Vietcombank listed at VND 23,150 (buy) and VND 23,240 (sold). Vietinbank: VND 23,151 (buy) and VND 23,241 (sold). BIDV: VND 23,155 (buy) and VND 23,244 (sold). ACB: VND 23,150 (buy) and VND 23,230 (sell).

At the beginning of the trading session on January 30 (Vietnam time), on the world market, the exchange rate fluctuated strongly. The US Dollar Index (DXY), which measures the volatility of the greenback with 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF) stands at 95.80 points. read more gold

Tỷ giá ngoại tệ ngày 30/1

USD stood at: 1 euro, exchanging USD 1.1425; 109.49 yen in exchange for 1 USD and 1,3189 USD in exchange for 1 pound.

Early in the morning, the dollar on the world market stood at a low level as investors bet on the ability to change US policies. USD in the free market dropped.

The weak dollar is due to the market beating the US Federal Reserve (Fed) will keep the interest rate at 2.25-2.5% in the 2-day meeting that starts taking place from January 29 in the context A series of forecasts show that the prospects of the US economy become less bright due to the unpredictable US-China trade war and the US government's closure for more than 35 years by the negative impact of Q1 GDP.

The US and China are trying to reach a trade agreement before the third deadline when US President Donald Trump makes a decision to raise taxes on Chinese imports. US Treasury Secretary Steven Mnuchin said the two countries are making a lot of progress in trade. However, many opinions said that My Trung has many problems.

According to Reuters, the US has officially prosecuted Huawei and Ms. Manh Van Chu (Huawei Company CFO) for 23 charges: including fraud and violating sanctions against Iran, stealing trade secrets of an American company. The US requested extradition of Mrs. Manh Van Chu to the United States for trial.

Regarding monetary policy, some Fed officials said that the agency will "be patient" when implementing the plan to raise interest rates in 2019 when consumer confidence and domestic business are weak. In 2018, the Fed raised interest rates 4 times.

In the country, the free USD price dropped sharply due to the increase in USD supply, thanks to the money from overseas compatriots returning home for Tet, tourists ...

On the domestic market session on January 29, the exchange rate of USD / VND in some banks was unchanged compared to the previous session, popular at VND 23,150 / USD and VND 23,240 / USD.

By the end of January 29, Vietcombank listed the exchange rate at VND 23,150 / USD and VND 23,240 / USD. Vietinbank: VND 23,151 / USD and VND 23,241 / USD. BIDV: VND 23,155 / USD and VND 23,245 / USD. ACB: VND 23,150 / USD and VND 23,230 / USD.

From the beginning of 2018, the US dollar exchange rate in the banking system increased by VND 465-475 in both buying and selling directions.

USD price on the black market stood at: 23,175 - 23,195 VND / USD.

Closing the 29/1 session, the Euro rate stood at 26,300 dong (buy) and 27,038 (sell). Pound exchange rate: VND 30,143 (buy) and VND 30,625 (sell). Japanese yen rate was at 204.8 dong and sold at 213.3 dong. read more https://tygia.vn/

The USD exchange rate rebounded after the US 50-year record

After many sessions of price reduction, today morning, January 25, the USD exchange rate has strongly increased when the US achieved a 50-year economic record. The attractiveness of this green and silver coin is attracting the attention of very large investors in the market. see how much gold prices today

This morning, the domestic exchange rate recorded no change compared to the previous trading session on January 24. Commercial banks all listed at a popular price when they bought 23,155 dong and sold 23,245 dong. The exchange rate of Acb banks listed in the afternoon of buying and selling is VND 23,155 and VND 23,235. Along with the listed price of buying with ACB is the exchange rate of BIDV. This bank is only slightly over 10 dong for selling compared to ACB when selling out is 23,245 dong. The exchange rate of MB was also not assessed as having the highest buying direction with VND 23,160 but the lowest selling rate in the market with VND 23,230.

Meanwhile, the situation in the world market has noticeable fluctuations. The US Dollar Index (DXY), which measures the volatility of the greenback with 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF) stands at 96.26 points. Accordingly, the USD exchange rate has increased sharply after the United States achieved a 50-year economic record. Specifically, US unemployment data fell to the lowest level in 50 years. This shows that the US labor market continues to generate positive signals. This is also a signal that the US economy is recovering after a long time of decline.

Besides, the strong rise in the exchange rate chart is also due to the instability of Europe. The area is still subject to policies against an inconspicuous outlook. So the Euro and the British pound also lost their attractiveness in the eyes of investors, enabling the dollar to appreciate.

Although the US greenback is generating positive signs of resilience, according to experts, this situation will not last long. Maybe in the long term, the dollar will still fall when the Federal Reserve (Fed) can stop the rate hike in 2019. This is what can make investors turn away from this greenback.

Moreover, the US dollar exchange rate currently has no necessary stability when trade conflicts between the United States and China continue to attract the attention of the world. It makes investors dare not to put all their trust but instead choose safer assets. read more https://tygia.vn/

The exchange rate of USD on January 24 plummeted, the British pound increased

When investors choose to bet on the key currencies which have dropped in recent years, the pound has increased sharply, the USD exchange rate has plummeted again. This fact stems from worries about the US economic situation in recent years

xem gia vang trong nuoc hom nay


Standing at 96.21 points in the trading session today showed US Dollar Index (DXY), which measured the greenback movement with 6 major currencies including: EUR, JPY, GBP, CAD, SEK, CHF has a sharp decline. The USD exchange rate is also not out of this fate


Currently, due to the economic and political instability of the US, investors have chosen to bet on the British pound and Euro. They hope in a new plan to withdraw from Brexit Europe by British Prime Minister Theresa May will be better. Meanwhile, the US economy in recent years has shown signs of clear decline. In particular, the US government's partial closure to the Mexican border issue put further pressure on the country's greenback.

Besides, the USD exchange rate chart will also tend to fall more strongly when there is news that the US Federal Reserve will likely stop raising interest rates in this 2019. It will make the dollar lose its attractiveness compared to other assets, typically gold.

While investors are expecting positive changes in US-China relations, the Financial Times reported that the US has canceled its planned trade negotiations for high-level talks between the US and China. at the end of this month. This shows that "cooling" in tensions between the two countries will still be a problem and not easy to achieve the desired goal.

At the beginning of the morning session, the domestic exchange rate also tended to decrease slightly. Typically, the USD exchange rate of Sacombank stood at 23,120 dong for buying and selling direction, 23,257 dong. Foreign exchange rate Vietcombank is not optimistic when buying cash is 23,155 dong and selling is 23,245 dong. The exchange rate of Tpbank also dropped to 23,145 dong for buying and 23,245 dong for selling.

It is expected that in the next trading sessions, the USD exchange rate will have many uncertainties that make investors have to consider carefully to get the most accurate decision for themselves. read more