The headquarters of the State Bank of Vietnam (Photo: VNA)
Hanoi (VNA) - The State Bank of Vietnam on October 24 decided to revise up several interest rates by 1%, starting from October 25.
Accordingly, the refinancing interest rate will be set at 6% per year, rediscount at 4.5%, and overnight inter-banking lending rate at 7%.
Illustrative image (Photo: VNA)
The maximum interest rate for non-term and one-month deposits in VND is capped at 1% annually and that for 1-6 month deposits, 6%.
Deposits of 1-6 months at people’s credit funds and micro-finance organisations will enjoy an annual interest rate of 6.5%.
Meanwhile, the maximum short-term lending interest rate in VND at credit institutions for the capital demand for a number of economic sectors increased to 5.5%, and those at people’s credit funds and micro-finance organisations to 6.5%./.
The State Bank of Vietnam set the daily reference exchange rate for the US dollar at 23,316 VND/USD on September 22, up 15 VND from the previous day, following the Fed’s decision to raise interest rate by 0.75 percentage point.
The State Bank of Vietnam (SBV) will persist in monetary policy management solutions towards macroeconomic stability, but closely follow all developments to manage the situation in an appropriate manner, SBV Governor Nguyen Thi Hong said, given the Federal Reserve System (Fed)’s latest interest rate increase.
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This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
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This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
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The headquarters of the State Bank of Vietnam (Photo: VNA) 
Illustrative image (Photo: VNA) 
