Basic interest rate in Vietnamese dong remains at 8.75% a year

The State Bank of Vietnam has released a decision on the basic interest rate in Vietnames dong which set to be maintained at 8.75% a year applied since May 1, 2008.

The refinance interest rate is fixed at 7.5% per annum and the discount interest rate, at 6% per annum.

Thus, interest rates in Vietnamese dong applied from May 1 2008 are the same compared to the previous month.

This is the fourth month the State Bank of Vietnam has kept these interest rates.

Earlier, the Vietnam Banking Association has agreed to increase ceiling interest rate for deposits in Vietnamese dong to 12% a year.

ND

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