Hanoi Gucci shop fined for doing business in dollars

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The State Bank of Vietnam has fined a Gucci showroom in Hanoi VND75 million (US$3,598) after the police caught an employee receiving $300 in payment from a customer, online newspaper Dan Tri reported.

Following a surprise raid on January 5 the officers also seized dollar bills worth $700 from the shop situated on Ly Thai To Street and ordered the shop to stop accepting foreign currencies.

Last October penalties for foreign currency violations were increased, with the maximum fine raised to VND500 million ($24,000).

With the State Bank of Vietnam seeking to tighten control over the forex market, hefty fines have since been slapped on several gold shops.

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