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SBV says credit growth rate reaches 28 percent (08/10)
06/08/2010 - 72 Lượt xem
Regarding the interest rates performance, the central bank believes the deposit and loan interest rates remain fairly stable. Businesses now can borrow money with the VND interest rate of between 4.5 and 6 percent per annum under the interest rate subsidy programme.
However, commercial interest rates applied to consumer loans are higher at 12-16 percent per annum. The US$ interest rates have increased by 0.5-1 percent per annum, now hovering around 3.5-7.5 percent per annum.
Regarding the VND/US$ exchange rate, the interbank exchange rate has been slightly increasing. The official exchange rate on September 30 was at 16,991 dong per dollar, an increase of 0.08 percent over the end of 2008. Commercial banks have been quoting the exchange rates for commercial transactions at the ceiling levels, at five percent higher than the official exchange rate.
The central bank affirmed that the short supply of foreign currencies has been settled and that commercial banks now can balance the sale and purchase of foreign currencies already.
Several months ago, the dollar supply was short as export companies refused to sell dollars to banks as they thought that the dollar prices would increase further in the future. However, commercial banks have admitted that they have been able to purchase dollars more easily since late July.
The bank says that the foreign currency supply has been improved considerably as the foreign portfolio investment flow to Vietnam tends to increase. However, it has not provided detailed figures on the foreign investment.
Source: VietNamNet/TBKTVN
