Mekong Delta firm fined $2,400 for selling $100

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The central bank branch in the Mekong Delta province of Tra Vinh has fined a local company VND50 million (US$2,400) for illegally selling $100 to a customer.

The branch of the State Bank of Vietnam also confiscated $100 from the Nam Sanh One-member Limited Company and ordered the company to stop illegally trading in foreign currencies.

On February 9, an inspection team of the Tra Vinh Province Police Department caught the company in the act of selling $100 to a customer.

The inspectors immediately made a report on the illegal trading.

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

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

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