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Monetary market sees continued stability (05/02)
06/08/2010 - 210 Lượt xem
The prime interest rate for deposits in Vietnamese dong was 8.25 percent a year in January 2007, unchanged as compared to the end of 2006. Interest rate for deposits in Vietnamese dong on the inter-bank market dropped 0.17-1.23 percent per year for deposits with terms less than a month, while increasing 0.02-0.13 percent per year for deposits with terms longer than a month over the end of last year.
For this reason, the SBV has announced that the prime interest rate for deposits in Vietnamese dong is 8.25 percent a year as of Feb. 1.
The level for borrowing and lending interest rates in Vietnamese dong and US dollars offered by financial institutions is fairly stable as compared to that of the end of 2006.
To implement the roadmap for deregulating rules relating to the trading of foreign currencies, the SBV has since Dec. 31, 2006, expanded the fixed trading margin for US dollars by financial institutions from 0.25 percent to 0.50 percent as compared to the average interest rate on the inter-bank market.
According to the SBV, the current supply of foreign currencies, both by the whole economy and the banking system, is abundant thanks to increasing overseas remittances during the year-end as well as growing direct and indirect investment inflows into Viet Nam.
Source: VNAgency
