Moody's ups VN banking system's rating to stable Business

Moody's ups VN banking system's rating to stable

Moody's Investors Service raised the outlook on Vietnam's banking system to stable from a negative assessment, noting a stable business climate, improved macro-economic situation and easing liquidity stress.
Business

Interest rates lowered by 1.5-2 percent

The interest rates on Vietnamese dong credits and deposits slashed by 1.5-2 percent over the previous year, helping remove difficulties for businesses, curb inflation and stabilise the monetary market.
Business

CPI to rise due to health-care charges

The country's consumer price index (CPI) in June is set to increase between 0.5 and 0.6 percent against the previous month, according to the Vietcombank Securities Co (VCBS).
Business

Capital flows to government bonds

The English language news website VietNamNet Bridge on April 18 reported that banks have had to inject their money into government bonds as credit gets stuck.
Business

Investors returns to high-end real estate

With low deposit interest rate and less attractive investment in other sectors, many investors have returned to the high-end real estate segment, the Vietnam Business Forum reported.
Business

SBV adds 7.7 billion USD to forex reserves

The State Bank of Vietnam (SBV) purchased roughly 7.7 billion USD worth of foreign currency for the national foreign exchange reserve in the first quarter this year thanks to stable foreign exchange rates, SBV Governor Nguyen Van Binh said.
Business

Central bank steps in to end rate-lowering race

In an effort to stop unhealthy competition among banks, the State Bank of Vietnam (SBV) has issued a regulation that would prevent banks from offering loans at rates lower than deposit ones to extend more loans to businesses as capital has piled up.
Politics

PM Dung presents Government’s report at National Assembly

Prime Minister Nguyen Tan Dung presented the Government’s report on the socio-economic situation in 2013, results of the first three-year implementation of the five-year plan 2011-2015 and the tasks for 2014-2015, on the first day of the 6 th session of the 13 th National Assembly, which opened in Hanoi on October 21.
Business

Central bank initiative reduces lending rates

The lending interest rate is currently equal to the 2005-06 rate thanks to the flexible interest rate cap regulations the central bank has applied since 2011, according to a report the bank released this week.

By reducing deposit interest rates by 7 - 10 percent, the bank was able to get the lending rate down by 9 - 12 percent against mid-2011.

Business

New policies fail to lift shares

Several new Government policies, including tax relief for low earners and a new ceiling on deposit interest rates, began from on July 1 but shares still took a dive on the country's both stock exchanges.
Business

Financial committee urges rate cut

The National Financial Supervisory Committee has suggested a further cut in the deposit interest-rate cap to 7 percent to bring down lending rates to around 10 percent.
State Bank warns of further interest rate cuts Business

State Bank warns of further interest rate cuts

The State Bank of Viet Nam (SBV) will effect further interest rate cuts soon, Governor Nguyen Van Binh has said at a conference held to discuss monetary measures needed to boost socio-economic development in Ho Chi Minh City.
Business

Interest rate drops, inflation under control

The State Bank of Vietnam has adjusted its benchmark interest rates five times in 2012 at a pace faster than planned, bringing the ceiling for deposit interest rate down to 8 percent a year and lending interest rate for priority sectors to 12 percent per annum, the bank said at a press conference on Dec. 27.
Business

State Bank lowers interest rates

The State Bank of Vietnam lowered deposit and lending interest rates by one percent each on December 24 in a bid to provide enterprises with easier access to finance.
Vietnamese dong deposit interest rate cut to 9 percent Business

Vietnamese dong deposit interest rate cut to 9 percent

The deposit interest rate for Vietnamese dong will be reduced to 9 percent per year from the current 11 percent from next week, Governor of the State Bank of Vietnam (SBV) Nguyen Van Binh said at a National Assembly meeting on June 7.
Dong depreciates against US dollar Business

Dong depreciates against US dollar

The US dollar appreciated against the Vietnamese dong and peaked around 21,000VND per dollar yesterday compared to the rate of 20,870 two months ago.

Typically, Techcombank sells dollars at the highest exchange rate of VND21,015 per dollar and buys dollars at 20,910 VND per dollar.