3:26:43 PM | 7/8/2005
The State Bank of Vietnam (SBV), or the central bank, has announced that it maintains the basic interest rates for deposits in Vietnamese dong in July.
Accordingly, the VND deposits will have interest rates of 0.65 per cent per month, or 7.8 per cent per annum.
The State Bank also keeps the capital re-granting interest rate at 6 per cent per annum and discounting interest rate at 4 per cent to the credit institutions.
According to a SBV official, the bank has kept interest rates unchanged based on the practical macro-economic movements and monetary and financial development in domestic and international market.
SBV will continue to carry out its prudent monetary policies and control credit growth rates at the set targets in order to reduce the rise of consumer price index (CPI) and boost economic development, the official said.
Vietnamese
