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Tet demand for lucky money leaves HCM banks short


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Vietnam's new Tet Offensive

 

HCM = Ho Chi Minh City (Saigon)

 

Tet demand for lucky money leaves HCM banks short

 

HCMC’s commercial banks reported the central bank has delayed the transfer of small denomination coins of VND200, VND1,000 and VND2,000 over the last two days due to high demand at Tet lunar New Year.

 

Vu Huy Toan, deputy director of HCM City-based State Bank of Vietnam (SBV), explained the bank could not allocate the currency to all HCMC banks at the same time because of a sharply increasing demand for small coins for Tet.

 

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