2. According to the express reports of credit institutions, by Decmber 9, 2008, the average interest rates in VND of most terms in the inter-bank market tended to decrease, excluding the rates of 2 week and 1 month terms which slightly increased as compared to the previous week. Specifically, the average overnight rate in VND is 9.01 p.a. and the average term rates of 1 week, 2 weeks, 1 month, 3 months, and 1 year are 9.98% p.a., 10.63 p.a, 10.76% p.a., 11.19% p.a., 11.40% p.a respectively.
The average interest rates in USD in the inter-bank market slightly changed and still remained considerably stable.
3. Commercial banks quoted their exchange rates close to the ceiling rate set by SBV, commonly at 16,982-16,986 VND/USD while SBV continued to closely monitor the forex market in order to ensure macro-economic growth, and put trade deficit under control as well.
4. SBV Management Board’s activities
- On December 5, Governor Nguyen Van Giau and Chairman Nguyen The Thao of the Hanoi People’s Committee co-chaired a meeting of SBV and the Ministry of Finance with the Hanoi People’s Committee to resolve difficulties and problems of small and medium enterprises in getting access to loans of credit institutions.
- On December 9, Governor Nguyen Van Giau joined Mr. Martin Rama, Acting Country Director of the World Bank (WB) in Vietnam, to sign the Financing Agreement and the related legal documents for the WB-financed Agriculture Competitiveness Project for Vietnam.
- On December 9, SBV Deputy Governor Nguyen Dong Tien granted an interview to the resident corresponndent of the Asahi daily of Japan.
- On December 10, Governor Nguyen Van Giau chaired the Year-End Gathering with representatives of international financial institutions and foreign credit institutions at the SBV head office in Hanoi.
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