SBV announces regulations on foreign currency reserve requirement interest rate

The Governor of the State Bank of Vietnam (SBV), on April 3, 2009, issued Decision No.790/QĐ-NHNN on the interest rate applicable to excessive amount of reserve requirement in foreign currencies of credit institutions and the State Treasury’s foreign currency deposits with the SBV.

Accordingly, as of April 3, 2009, the SBV will pay credit institutions an interest rate of 0.1% p.a on the excessive amount of reserve requirement in foreign currencies, and an interest rate of 0.1% p.a to the State Treasury’s foreign currency deposits with the SBV.

This new interest rates will replace the rates stipulated Decision No. 3281/QD-NHNN dated December 31, 2008 on interest rate applicable to excessive amount of reserve requirement in foreign currencies of credit institutions and the State Treasury’s foreign currency deposits with the SBV.

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