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Vietnamese central bank guilty for Incombank losses

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The State Bank of Vietnam was to blame for $5.4 million in foreign exchange trading losses at the state-run Industrial and Commercial Bank of Vietnam (Incombank) last year, according to local government inspectors.The government report, posted on the official Vietnam News Agency website, found the central bank's lack of proper regulation on interbank foreign currency trading led to losses incurred by Incombank. The audit says the central bank had failed to tighten supervision of the interban