Dong base interest rate set at 0.625%/mth
The State Bank of Vietnam has just issued an announcement relating interest rate applied to the Vietnamese dong. Accordingly, the lending rate of the State Bank of Vietnam (SBV), applying from November 1st, is 7.5% per year, or 0.625% per month.
The interest rate on the SBV capital injection into credit organisations is fixed at 5% per annum, or 0.416% per month, while the discount rate is 3% per annum or 0.25% per month.
Meanwhile, HCM City-based branch of the State Bank of Vietnam (SBV) reports some credit institutions in the city have raised interest rate of deposits in US dollars after the US Federal Reserve lifted the base rate to 1.75%. Currently, interest rate applicable to lending in hard currency fluctuates around 3.5%–6%/year.
