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Dong deposit rates have been capped at 14 percent. Lowering deposit rates will help reduce borrowing costs for businesses, experts said. With improved bank liquidity, Vietnam’s goal of reducing dong interest rates in September may be well within reach, according to local economists. In early August, the State Bank of...

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After holding steady for months against the dollar, the Vietnamese dong began to show signs of weakening this week The Vietnamese dong has weakened after holding steady for months against the dollar, following a gold hoarding panic over the weekend. Commercial banks lowered the dong against the dollar on Thursday, increasing...

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  Banks in VIetnam  have stepped up sales of the dollar as they anticipate a move to reduce their dollar holdings, even as they compete to mobilize more of the greenback to meet increasing demand for dollar loans. “Buying foreign currencies now is easier...

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  As inflation slows and liquidity improves, the high dong deposit rates offered by commercial banks could fall slightly in the coming months, Nguyen Thi Mui, a member of the National Advisory Council for Financial and Monetary Policies, tells Thanh Nien Weekly. Thanh Nien Weekly: Firms say that interest rates...

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Many banks with suplus cash are pouring money into the bond market. Low interest rates on dollar loans are attracting businesses. More than ever before, firms are opting for the foreign currency in a bid to escape escalating dong rates. But economists warn that exchange rates will jump in the coming months, when the central...

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The proposal to collect fees from ATM card holders has been rejected by the State Bank of Vietnam (SBV) for a third time. VnnNews – The proposal to collect fees from ATM card holders has been rejected by the State Bank of Vietnam (SBV) for a third time. Many commercial banks have been trying to “dodge the law” by collecting...

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Le Xuan Nghia, an economist, said that State Bank policies have distorted the credit market and complicated foreign exchange management. VnnNews – Le Xuan Nghia, Deputy Chairman of the National Finance Supervision Council, told participants in a top level workshop that State Bank policies have distorted the credit market and complicated...

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VnnNews – The dollar purchase prices quoted by commercial banks now tend to increase VnnNews – The dollar purchase prices quoted by commercial banks now tend to increase, though the sales prices remain at ceiling levels. Businesses complain that they meet difficulties when trying to buy dollars.   Shipping companies refuse...

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Sumitomo keen to invest in US$3.8 billion thermal electric power plant; A Vuong hydroelectric power plant inaugurated; European Trade Information Centre debuts; Vietnam to open trade promotion centre in Phnom Penh Sumitomo keen to invest in US$3.8 billion thermal electric power plant Since 2006, Japanese Sumitomo Group has asked to invest...

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VnnNews – As inflationary fears ease, bankers expect the deposit interest rate to settle at ten percent per annum VnnNews – As inflationary fears ease, bankers expect the deposit interest rate to settle at ten percent per annum and lending interest rates to creep down toward the twelve percent range.   With capital more...

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