11:06:45 AM | 3/10/2008
Vietnam’s interbank interest rate September 30 hit the lowest level so far this year after it fell to only 8 per cent per annum for one day term, Labor newspaper reported.
Thus, the interbank rate shrank 30 per cent from its peak recorded in the first months this year.
The interest rate in interbank market kept falling from the beginning of September, especially after Vietnam’s central bank decided to raise interest rate for compulsory reserves to 5 per cent from 3.6 per cent per annum and allowed using compulsory bills to trade in open market.
However, lending interest rates for 30 days and 61 days are quite high, at 16.4 per cent-17 per cent per annum, which indicates that banks’ liquidity is improved, but they are still prudent with deposit changes in the remaining months of this year. (Labor)
Vietnamese
