Credit agencies ensure solvency: central bank

The State Bank of Vietnam said on December 21 the monetary market was fairly stable last week as the compulsory deposits of credit agencies at the central bank ensured requirements and solvency.

Last week, interest rates on the interbank market tended to rise compared to the previous week with average rates of all terms climbing to above 10 percent a year, it said.

Interest rates changed in a range of 0.24 percent to 1.08 percent, of which six-month term interest rates saw the highest rise.

The lowest lending rate was at 5 percent a year, and the highest at 12 percent a year.

The overnight interest rate rose by 0.66 percent over the previous week to 10.71 percent a year.

By Staff writers – Translated by Thuy Doan

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