VND Interest Rate Sees No Changes Early 2007

The State Bank of Vietnam has announced the basic interest rate (to be applied for January) at 8.25% per annum, which sees no change compared to the those of last year.

Meanwhile, the re-capitalization rate for credit institutions is 6.5% per annum; and the discount rate for them is 4.5% per annum.

There are no changes in these rates from last year and this stability will continue in the first month of 2007.

According to many experts, the interest rates on the VND last year rose by 0.02 - 0.14 % per annum. By this year-end, the highest mobilization interest rate on the VND of commercial banks was 0.82% per month for one-year term loans.

By H.Y – Translated by Trong Khuong

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