Metropole hotel fined for US dollar price listings

TN News

Email Print

Vietnam's central bank has imposed the maximum penalty of VND500 million (US$23,775) on a Hanoi-based company that manages the Sofitel Metropole Hotel for illegally listing prices in US dollars.

Thong Nhat Metropole was found listing prices in its restaurant and bar menus as well as charging shop tenants in the foreign currency, the State Bank of Vietnam said in a statement Friday.

The hotel manager has been ordered to stop the illegal practice.

Vietnam last October increased penalties for foreign currency and gold trading violations, raising the maximum fine to VND500 million.

In November, the central bank fined FPT University, also in Hanoi, VND500 million for publishing tuition fees in US dollars.

Hefty fines have also been levied on several gold shops for violating regulations on US dollar trading, as the State Bank tightens control over the forex market.

More Business News