Business

Interbank interest rate sharply rises

The Vietnam dong’s interest rate on the interbank market exceeded 3 percent per annum for the first time over the past more than six months.
Interbank interest rate sharply rises ảnh 1The Vietnam dong’s interest rate on the interbank market exceeded 3 percent per annum. (Photo: VNA)

 Hanoi (VNA) -  The Vietnam dong’s interest rateon the interbank market exceeded 3 percent per annum for the first time overthe past more than six months.

The rate increasedfrom 0.34-0.92 percent, pushing the overnight rate to 3.02 percent, one week at3.28 percent and two weeks at 3.56 percent, respectively.

The increasereflects higher demand for dong with the Tet (Lunar New Year) festival approaching.

Meanwhile, the referenceVND/USD exchange rate stands at 22,730 VND/USD as listed by commercial banks,dropping from the previous rate of between 22,745-22,750 VND/USD.

The State Bank ofVietnam continues to buy a large amount of foreign currencies, with over 4 billionUSD purchased since the beginning of this year, raising the country’s foreignreserves to more than 57 billion USD.-VNA
VNA
#interest rate#interbank market#overnight rate#Tet#Lunar New Year#VND/USD exchange rate#State Bank of Vietnam#commercial banks#Vietnam#VietnamPlus#Viet Nam News
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