Vietnam and the International Monetary Fund the "import substituting and non-tradable" sectors like construction and telecommunication as opposed to investment in exportable goods and services. In 2001, Vietnam sent a letter of intent to the IMF to receive a loan to fund the Poverty Reductions and Growth Funds arrangement. In order to create a greater macroeconomic stability for Vietnam they would rely on the monetary policy while under shock scenarios as it has proven to lift off interest rates. According to IMF records, Vietnam is still paying that loan and continues their membership with the IMF. Since 2012, the Vietnamese dong closely tied to the U.S.
State Bank of Vietnam State Bank of Vietnam The State Bank of Vietnam () is the central bank of Vietnam. It currently holds an about 65% stake of VietinBank - the country's largest listed bank by capital. When Indochina was under French rule, the colonial government governed the Indochinese monetary system through Indochinese Bank, which also acted as a commercial bank in French Indochina. After the August Revolution in 1945, the government of the Democratic Republic of Vietnam gradually attempted to exercise a monetary system independent from France. On 6 May 1951, president Hồ Chí Minh signed decree 15/SL on establishment of National Bank