(tonvanshellbuttons.com.vn) - Rumors banking leaders fled, was arrested; food scarcity or rumors relating to exchange rate makes people panic and benefit for a group.
1. ACB Director General Pham Van Thiet flee
Rumors appeared in the 13th, staggered Stock Bank (ACB) as well as the entire banking system of the day 14/10/2003. ACB which had been rated as one of the leading banks in terms of business performance and risk management. But CEO fled when unverified damage caused customers rushed to withdraw money at the bank, and then to the other bank.
He Pham Van Thiet (Left) - Former General Director of ACB
Incumbent State Bank, Le Duc Thuy, immediately flew from Hanoi to Ho Chi Minh City to handle the situation. Contact with clients ACB, he claims this is false information and is committed to support the bank if all customers are still determined to withdraw.
General Director of ACB - Pham Van Damage and ACB Chairman Tran Mong Hung must appear at the office of the bank to refute rumors and confirmed activities of normal ACB still occur, the entire customer deposits ACB buy deposit insurance under the provisions of the State Bank. ACB representative also awarded 200 million for one power supply for the authorities to find the objects launched rumors.
Mr. Le Duc Thuy Pham Van Damage quick online exchange with readers VnExpress to provide more information about healthy activities at the bank and the banking system, thereby reassure depositors. The situation stabilized a few days later.
2. All stockpiles
Vietnam is the country of manufacture, the world's leading rice exporter, but rumors of rice last month 4/2008 is still true that many ordinary people think and en masse to buy stock, that even the spectacle subsidy also not occur. Final damage is the people, had to scramble to buy rice at high prices, some more expensive than the normal three. While traders the opportunity to develop, farmers will not benefit.
Similar rumors repeated in 12/2009 and 8/2010 market was brought up about the demand for rice in the world rice soared and very little remaining inventory. Rice prices in some places double, people lined up to buy rice reappears.
Then, in August / 2011, rumors that Vietnam signed contracts to export rice to Malaysia, Indonesia, Philippines with high prices once again pushed the rice market price storm.
Ministry of Industry and Trade, Ministry of Agriculture and Rural Development, and the Vietnam Food Association are to speak to the psychological stability of people and affirmed Vietnam's rice supply and demand remains stable.
Continuous rice price increase rumors burden. Photo: Gia Bảo
3. Issuing money in denominations of 1 million, currency exchange
On 2/12/2009, panicky with information Vietnam will release the money in denominations of 1 million and aggressive tightening of monetary policy, and shocked with rumors Vietnam will exchange even currency market without much disturbance.
Investors also panicked when she heard The government required banks to purchase bonds at a rate of up to 50% of the charter capital, five times higher than the requirements given in the first currency crisis in 2008, increased interest rates and raising the required reserve ratio in dong.
Information exchange in 2009, who made people panic. Photo: PV
A director of the State Bank then had to stand out your false information. But banking and financial markets also phen wobble, the inter-bank interest rate hikes, the stock dropped dramatically.
February / 2011, similar rumors going on, when the economy is showing signs of high inflation, interest rates soared.
4. BIDV chairman Tran Bac Ha, arrested
BIDV chairman Tran Bac Ha
Rumors Chairman of the Joint Stock Bank for Investment and Development of Vietnam (BIDV), Tran Bac Ha, was arrested who was brought up on 21/2, making the stock market session strongest decline (more than 18 points) the last 6 months. Investors scrambled to sell out by psychologists as relate to the impacts as arrest elected Kien in May 8. Many expressed anxiety also appear on the gold market, foreign currency ...
Immediately, the same day, BIDV chairman Tran Bac Ha voiced denied this and said that "there is a group of speculators rumored to profit." Bank leaders also suggested that security agencies in the investigation originating rumors. Relevant agencies such as the State Bank, the Securities and Exchange Commission also made a number of moves to check transactions, reassure the market.
After this step, the stock market and finance on 22/2 had more positive reactions, increased slightly at the end of the session. On the foreign exchange market, the exchange rate of the U.S. dollar is also showing signs of hypothermia in the morning.
5. Exchange rate adjustment
Devalued the dong by 2-3% against the U.S. dollar as proposed by some experts before the Lunar New Year. They say this is the best support for export should be done right the first quarter when inflation is low and abundant foreign reserves. State Bank right then there is no official response.
After Tet, a number of large banks to enhance buy dollars to balance the state and serve the needs of the payment due. This move as making investors sell credit facilities the ability to adjust, the black market exchange rate increase over the 21,000 mark.
Rate rumored changes. Photo: HH
Even more hot when market rumors Chairman of BIDV was arrested spills, small banks also increased buying dollars made in the bank rate also climbed over the 21,000 mark.
State Bank late afternoon to broadcast official messages, your message dumping and commitment to stabilize the value of money. Foreign exchange markets gradually cool in the morning.