The interest rate for US dollar deposits will be cut by 0.75 per cent to 1.25 per cent per year.— Photo vtv.vn

HA NOI (Biz Hub) — The interest rate for US dollar deposits would be reduced by 0.75 percentage point to 1.25 per cent per year as of tomorrow, according to a press release from the State Bank of Vietnam (SBV).

Interest on six-month dong deposits will reduce by 0.5 percentage point to 7 per cent per year.

Short-term lending rates for prioritised sectors including agriculture, exports, support industries; hi-tech businesses and small and medium enterprises (SMEs) will be cut from 10 to 9 per cent.

The SBV has also decided to raise the inter-bank average VND/US$ exchange rate by 1 per cent to VND21.036 per dollar. — VNS