Monetary market remains stable after petrol price hike (28/07)
06/08/2010 - 25 Lượt xem
According to the SBV, foreign currency supply and demand gradually regained balance over the last week. The difference between USD/VND buying and selling rates stood at 70-100 dongs per USD. Commercial banks no longer request the SBV during the week.
State commercial banks, while keeping their annual deposit interest rates ranging from 17 percent – 18 percent (1 percent lower than the common rate of joint-stock commercial banks), have gained advantage by slashing lending interest rates in VND by between 0.5-1 percent per year and in USD by up to 2 percent per year.
Joint-stock commercial banks’ lending interest rate were still high, at 21 percent per year. However, the Export-Import Bank (Eximbank) decided to reduce its VND lending interest rate.
There was also no big change in the inter-banking interest rate, which fluctuated between 19-21 percent per year for over-night and one-month terms.
The SBV governor has instructed commercial banks to ensure liquidity supply for businesses, especially those in agricultural production and the import and export of essential goods.
Source: VNA
