Commercial banks continue to receive re-financing loans

Last week, the State Bank of Vietnam carried out bidding sessions for an offer of valuable papers on the open market with a volume of VND 7 to VND 10 trillion a session for a seven-day term and an interest rate of 15% a year, in an effort to assist payments in commercial banks, the State Bank of Vietnam has announced.

In addition, the State bank continue to grant re-financing loans to commercial banks to assist payments in these banks and meet demands for capital from enterprises.

With regards to the foreign currency market, the supply and demand on the market has shown signs of balance. Commercial banks have listed their exchange rate under the ceiling rate by VND 70.  The difference in the USD/VND exchange rate between commercial banks is about VND 70-100/USD. The most worthy of note is that commercial banks do not have demands to buy foreign currencies from the State Bank of Vietnam.

ND

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