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Crackdown ordered on ‘loose change' trade

Update: December, 12/2013 - 08:05

HA NOI (VNS)— Individuals and organisations that earn profits from exchanging small-denominations with large notes at historical sites, pagodas and festivals will be strictly punished.

A document issued on Monday by the Governor of the State Bank of Viet Nam has asked the Ministry of Industry and Trade and the Ministry of Public Security to work together to discover violators of the currency regulation.

A study by the State Bank revealed that many residents used small denomination notes at temples and during festivals. Only a small amount of these small denomination notes are used as entrance payments, as the main amount is spent when worshiping in pagodas. — VNS


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