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Inter-bank rate hits new record low of 0.5%

Aug 2nd at 08:58
02-08-2017 08:58:06+07:00

Inter-bank rate hits new record low of 0.5%

Inter-bank lending interest rates have continuously slipped to hit a new record low, according to the latest monetary report by Saigon Securities Incorporation’s (SSI) Retail Research.

 

The rates for overnight loans in the inter-bank market on Friday declined to 0.5 per cent from 0.82 per cent on Monday, the lowest level since October last year.

The rates for one-week and one-month loans also dropped by 13 basis points to 1.14 and 2.29 per cent, respectively

Thanks to the good liquidity, the central bank last week issued bills worth more than VND40 trillion (US$1.75 billion) with a yield of 0.3 per cent against 0.5 per cent in the previous week.

During the week, the central bank withdrew VND2.5 trillion from the banking system.

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