Home Finance

VN central bank lowers foreign currency interest rates

Sep 28th at 14:12
28-09-2015 14:12:19+07:00

VN central bank lowers foreign currency interest rates

The State Bank of Viet Nam has lowered the maximum interest rates for USD deposits of organizations and individuals at credit institutions and foreign bank branches, applicable since September 29.

Accordingly, the annually interest rate for deposits of organizations is reduced to zero from the current 0.25% while the interest rate for deposits of individuals falls down to 0.25% from the current 0.75%.

The move aims to contribute to the effective implementation of the solutions on monetary policy and banking operations for the rest of the year, according to the central bank.

Earlier, the State Bank issued Decision 2172/QD-NHNN dated October 28, 2014 to stipulate the maximum interest rate applicable to USD deposits of entities, individuals at credit institutions and foreign bank branches.

Under the Decision, the maximum interest rate applicable to deposits of entities (other than credit institutions, foreign bank branches) shall be of 0.25%/annum and the maximum interest rate applicable to deposits of individuals to be of 0.75%/annum.

vietnamnet

MOST READ

NEWS SAME CATEGORY

Businesses worried as insurance premium, union dues too high
FINANCE Sep 28th at 14:02

Businesses worried as insurance premium, union dues too high

The sharp minimum wage increase of 12.4 percent and the new insurance premium calculations to be applied from 2016 have caused concern among businesses.

Relaxed policies governing FIEs may bear bitter fruit
FINANCE Sep 28th at 13:43

Relaxed policies governing FIEs may bear bitter fruit

Economic theory defines the “triangle of impossibility” as a nation’s inability to simultaneously pursue three macroeconomic goals: a stable exchange rate, free...

Vietnam cautious about lifting foreign-ownership ceiling for banks
FINANCE Sep 26th at 15:15

Vietnam cautious about lifting foreign-ownership ceiling for banks

The government’s lifting of the foreign ownership ceiling in Vietnamese commercial banks has been a hot topic on all securities trading floors in recent days.

BIDV official appoints bond association chairman
FINANCE Sep 25th at 19:04

BIDV official appoints bond association chairman

Quach Hung Hiep, the deputy general director of the Bank for Investment and Development of Viet Nam (BIDV), has been voted chairman of the Viet Nam Bond Market...

SMEs still find it hard to access loans
FINANCE Sep 25th at 14:56

SMEs still find it hard to access loans

Small- and medium-sized enterprises still face difficulties in trying to access loans and do not have too many options with regard to channels for mobilisation of...

Vietnam has enough cash for intervention regardless of any FED move: cbank
FINANCE Sep 25th at 10:57

Vietnam has enough cash for intervention regardless of any FED move: cbank

With about US$40 billion in foreign exchange reserves, the State Bank of Vietnam (SBV) will intervene in the forex market to shore up the value of the Vietnamese...

State Bank draft overhauls lending
FINANCE Sep 24th at 15:06

State Bank draft overhauls lending

The State Bank of Viet Nam has released a draft circular regulating consumer credit activities of financial companies to better manage lending as well as benefit...

Vietnam lending growth may accelerate to 16.5 pct in 2015: cbank
FINANCE Sep 23rd at 13:51

Vietnam lending growth may accelerate to 16.5 pct in 2015: cbank

Credit growth for Vietnam's banks could accelerate to 16.5 percent this year, beating a government target and quickening from a rise of 14.16 percent in 2014, a...

Vietnam’s public debts forecast to occupy 62.3 percent of GDP in 2015
FINANCE Sep 23rd at 13:50

Vietnam’s public debts forecast to occupy 62.3 percent of GDP in 2015

Vietnam’s public debts are projected to make up 62.3 percent of the country’s gross domestic product (GDP) by the end of this year, still within the permitted debt...

Finance ministry: Tax payment procedure lasts 117 hours
FINANCE Sep 23rd at 13:46

Finance ministry: Tax payment procedure lasts 117 hours

By the end of August, the time needed for tax payment procedures had dropped to 117 hours from 517 hours in late 2013, according to the Ministry of Finance.

Read More

Bank stocks

Insurance stocks

MOST READ

Back To Top