Banking operations are stable, says SBV

Thursday, Feb 13, 2014 17:49

Operations are currently stable in the domestic monetary market. — Photo

HA NOI (Biz Hub) ― Domestic banking operations are stable, the State Bank of Viet Nam (SBV) affirmed in a report on Wednesday.

The commercial banks showed good liquidity from January, with the interest rates for deposits in dong ranging from 1 to 1.2 per cent per year for terms of less than a month, 5 to 7 per cent for one to six-month terms, 6.5 to 7.5 per cent for six to twelve-month terms and 7.5 to 8.5 per cent for terms over a year.

For US dollar deposits, the popular interest rates were equivalent to the ceiling levels stipulated by the central bank, hovering around 0.25 per cent for institutional depositors and 1.25 per cent for the public.

Low interest rates of 7 to 9 per cent were maintained for dong loans in prioritised sectors, including agriculture and rural areas, export, small- and medium-sized enterprises, hi-tech firms and support industries.

In other production and business areas, the rates were between 9 and 11.5 per cent for short-term loans, and 11.5 and13 per cent for medium to long-term loans. Some businesses with healthy finances and efficient performance enjoyed rates of 6.5 to 7 per cent.

For US dollar loans, the short-term interest rates varied between 4 and 6 per cent and long-term levels were between 6 and 7 per cent.

The foreign exchange market also saw stable developments from January, as the market liquidity was good and the lending institutions were the net buyers in foreign currency transactions with their customers, while the exchange rates tended to decline.

On Thursday, the commercial banks were buying a dollar for 21,090 dong and selling it at 21,130 on average. The average inter-bank interest rate is 21,036 dong per dollar, according to the SBV website. ― VNS

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