Tin mới
Dong rates firm on year-end demand (04/01)
06/08/2010 - 27 Lượt xem
Bankers said companies had been withdrawing more cash in recent weeks to pay year-end bonuses and clear debt, while individuals need cash for shop-ping before holidays and other payments.
Four state-run banks offered loans Monday at between 7.0 percent and 8.2 percent, up from 5.5 percent to 7.8 percent a week ago.
Six-month loan rates stood at 9.0-9.5 percent, unchanged from two weeks ago.
Banks, which had foreseen the dong liquidity crunch that usually happens at this time of the year, prepared dong funds weeks ago to help ease the liquidity crunch, dealers said.
Demand for dong has been pushed up this year by, among other things, the disbursement of foreign direct investment, expected to rise 12.5 percent from last year to a record US$4.6 billion, government figures show.
Foreign investors have been piling into Vietnamese shares, while overseas remittances have risen to a record $10 billion this year via official bank channels and unofficial channels, industry analysts estimated.
The central bank has intervened to buy dollars and widened the trading band for dollar/dong transactions to 0.75 percent from 0.5 percent earlier this month.
Source: Reuters.
