Vietnam Central Bank Keeps Base Dong Rates Unchanged for April
The State Bank of Vietnam (SBV), the country’s central bank, on March 25 announced on its website that base interest rate for Vietnam dong will be unchanged at 7 per cent per annum in April, though the interest rates have started increasing recently.
Accordingly, the re-financing interest rate for credit institutions is maintained at 8.0 per cent per annum and discount rate at 6.0 per cent while overnight inter-bank rate remains at 8.0 per cent per annum.
The SBV said many commercial banks have further raised their deposit interest rates to meet the increasing demand for capital. Interest rates for dong deposits at local banks have increased recently by between 0.2 per cent and 0.3 per cent.
State-owned commercial banks raised interest rates on dong deposits of terms of three, six and 12 months to 6.91,7.25 and 7.58 per cent per year, respectively.
Meanwhile, the corresponding, dong deposit rates at joint stock commercial banks are 7.45, 7.79 and 7.8 per cent per annum. (SBV)
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