Since October, Vietnamese and foreign commercial banks are no longer allowed to provide mid- and long-term foreign currency loans. 

The stability of the VND has contributed to decreasing demand for the dollar as people prefer the national currency due to the large spread between interest rates on VND and the dollar.

With Circular 42 issued on December 28, 2018 which replaced Circular 24, the State Bank of Vietnam (SBV) tightened lending in foreign currencies in an effort to ease dollarization.

VietNamNet Bridge - The State Bank of Vietnam (SBV) has been taking a series of measures to stop dollarization, but the newly released 2015 financial report shows that the goal is still far away.

 VietNamNet Bridge – Viet Nam has succeeded in stabilising the foreign exchange rate, but the rate of dollarisation has not decreased as expected, experts said in a meeting on Monday.

VietNamNet Bridge – Economists from Hanoi National University have urged the government to adjust the dong/dollar exchange rate, while the National Finance Supervision Council said stabilizing the exchange rate is a top priority.

 VietNamNet Bridge – Vietnam vows to reduce the foreign currency deposit ratio to 15 percent by 2015 and stop the dollarization by 2020