Powerpoint Templates Page 6
Exchange rate arrangements in
Vietnam
•Before March 1989: A multiple exchange
rate system (with three-tier exchange rate
system), fixed exchange rate policy
•Three-tier ER system: official ER for
foreign trading, non-trading ER and
internal ER used in business relations
between banks and other domestic
business entities.
•These rates were also used in state
budgeting in regard to foreign aid mainly
coming from the former Council for Mutual
Economic Assistance (CMEA) and the
former Soviet Union using the Transfer
Ruble.
•·