Bank liquidity abundant after Tet Business

Bank liquidity abundant after Tet

Liquidity of the banking system has been plentiful again after the Lunar New Year (Tet), helping the central bank net withdraw more than 51.55 trillion VND (2.2 billion USD) in the past week.
2018 monetary market: a year of success Business

2018 monetary market: a year of success

In 2018, the VND only devalued about 2.2-2.3 percent compared to the USD and lower than the depreciation of EUR, pound and yuan at 4.5 percent, 5.7 percent and 5.4 percent, respectively.
Interest rate caps not needed: experts Business

Interest rate caps not needed: experts

The State Bank of Vietnam should consider developing a roadmap to remove regulations on credit growth limits and interest rate caps as it isn’t suitable due to the country’s achievements in stabilising the nation’s economy, according to experts.
Foreign exchange market to be stable in 2018 Business

Foreign exchange market to be stable in 2018

Commercial banks are optimistic about the foreign exchange market in 2018, noting the market would be stable with VND devaluing slightly by some 0.5-1 percentage points to 22,710 VND to 22,950 VND.
SBV demands strict compliance with credit rate regulations Business

SBV demands strict compliance with credit rate regulations

The latest instructions from Le Minh Hung, Governor of the State Bank of Vietnam (SBV), require credit institutions and commercial banks in Vietnam to strictly comply with the SBV’s regulations on mobilising capital in foreign currencies and not offer interest rates exceeding the ceiling levels.
Banks cut short-term deposit interest rates Business

Banks cut short-term deposit interest rates

After two weeks of lowering lending interest rates for short-term VND loans following the State Bank of Vietnam (SBV)’s cue, several commercial banks have reduced their deposit interest rates.
Experts foresee stable interest rates Business

Experts foresee stable interest rates

The central bank must push up banking restructuring and settlement of bad debt to ease pressure on rate hikes and keep interest rates stable this year, experts said.
Anti-dollarisation efforts face challenges Business

Anti-dollarisation efforts face challenges

The State Bank of Vietnam’s anti-dollarisation efforts have managed to keep the dong-dollar exchange rate fairly steady for a long time, thus helping stabilise the monetary market.
SBV asked to support prioritised sectors Business

SBV asked to support prioritised sectors

Prime Minister Nguyen Xuan Phuc has directed the State Bank of Vietnam (SBV) to prioritise capital for sectors with great contributions to economic growth, export, and employment such as hi-tech agriculture, and small and medium-sized enterprises.