Business

State Bank lowers interest rates on USD deposits

The State Bank of Vietnam (SBV) has lowered the interest rates for USD deposits from organisations and individuals (excluding credit institutions and foreign bank branches).
State Bank lowers interest rates on USD deposits ảnh 1Illustrative Image (Source:VNA)

The State Bank of Vietnam (SBV) has lowered the interest rates for USD deposits from organisations and individuals (excluding credit institutions and foreign bank branches).

Accordingly, the annual interest rate for USD deposits from organisations has been reduced to zero from the current 0.25 percent while the interest rate for deposits from individuals dropped to 0.25 percent from the current 0.75 percent.

The information was stated in Decision 1938/QD-NHNN, which comes into effect on September 28.

According to the bank, the decision aims to prevent foreign currency speculation, helping to effectively implement monetary policies and banking operations for the rest of the year.

The new decision replaces the SBV’s Decision 2172/QD-NHNN dated October 28, 2014 on the maximum interest rate applicable to USD deposits from entities and individuals at credit institutions and foreign branches.-VNA

VNA
#SBV#USD deposit#interest rate
Follow VietnamPlus

Related News

SBV widens VND/USD trading band. (Photo: VNA)

Central bank widens VND/USD trading band

The State Bank of Vietnam (SBV) has widened the trading band of Vietnamese dong/ US dollar (VND/USD) from +/- 1 percent to +/-2 percent, applicable from August 12 onwards.
SBV assurance calms foreign exchange fears

SBV assurance calms foreign exchange fears

The dollar pulled back a little on August 27 after the central bank promised no more devaluation is in the offing, with almost all banks reducing their selling rate by 25-35 VND.
SBV vows to keep VND rates within allowed band

SBV vows to keep VND rates within allowed band

Synchronous measures and monetary policy tools, including the selling of foreign currencies when needed, will continued to be employed to keep the VND's exchage rates within the allowed band.

See more

Industrial factories in Tan Uyen city, the southern province of Binh Duong (Photo: VNA)

Investors upbeat about Vietnam’s industrial property market

Investors are bullish on Vietnam's industrial property market growth on the back of the nation's strategic location, sound infrastructure, and increasing demand for industrial space, particularly industrial parks that meet green standards, according to market research.

Vietnamese Ambassador to Belgium and head of the Vietnamese Delegation to the EU Nguyen Van Thao addresses the forum (Photo: VNA)

Forum connects Vietnamese, Belgian busineses

The Vietnam-Belgian business forum took place in Brussels on October 23, offering a chance for enterprises of the two countries to introduce their products and explore new cooperation opportunities.

The expos cover over 6,000 sq.m, drawing over 210 exhibitors from 10 countries and territories. (Photo: VNA)

Hanoi hosts textile & garment, fabric garment accessories expos

The Vietnam Hanoi Textile & Garment Industry and Fabric Garment Accessories Expos 2024 (HanoiTex & HanoiFabric 2024) is taking place in Hanoi on October 23 – 25 as part of a series of international exhibitions on Vietnam's textile and garment industry.

Representatives from Vietnamese and Lao agencies, localities and businesses at the opening ceremony of the Vietnam-Laos trade fair 2024 in Xiengkhouang province. (Photo: VNA)

Vietnam, Laos step up trade, tourism promotion

A Vietnam-Laos trade fair was kicked off in Phonsavanh township in Xiengkhouang province of Laos on October 23 as part of activities to celebrate the 75th anniversary of the traditional day of Vietnamese volunteer soldiers and experts in Laos (October 30, 1949 – 2024).

Illustrative photo (Photo: chinhphu.vn)

Vietnamese goods enter US through global supply chain

The Saigon Co.op Distribution Company Limited (SCD) - a member of the Ho Chi Minh City Union of Trade Cooperatives (Saigon Co.op), and STC Natural Vina Company on October 23 held a hand-over ceremony for goods that will be exported to the US.

Vietnam’s lobsters have clawed their way back onto Chinese menus after a suspension. (Photo: VNA)

Vietnam’s lobsters claw back prominence in China

Vietnam’s lobster export to the Chinese market in January-September rose 33 folds year-on-year on the back of lower prices and stronger trade ties between the two nations, the South China Morning Post said on October 22.