Từ khóa: #operating interest rates

Although the State Bank of Vietnam (SBV) has increased the operating interest rates by 0.5-1 percent from October 25 to reduce the pressure on the USD/VND exchange rate, which has increased sharply over the past time, the US dollar price in commercial banks is listed at the ceiling price of VND24,888 per dollar, within the range of +/-5 percent according to the regulations of the State Bank. 

Amid the context that central banks of many countries raised interest rates sharply, from September 23, the State Bank of Vietnam (SBV) decided to increase operating interest rates, which experts assessed as a timely action.

The maximum interest rate applied for demand deposits with terms of less than one month is 0.5 percent per annum, and the maximum interest rate for deposits with a term from one month to less than six months is 5 percent per annum.

As rumors surfaced that banks’ operating interest rate would be cut, Standing Deputy Governor of the State Bank of Vietnam, Dao Minh Tu affirmed that adjusting the operating interest rates or other monetary policy tools is not an appropriate solution for the current period.