Bank interest rates continue to fluctuate

During the past week, commercial banks and credit organisations raised their deposit interest rates by between 0.2-0.4 percent, offering the highest rate of 9.99 percent/year.

They also lowered the deposit interest rates on US dollars to between 0.5-1.5 percent to limit speculation in foreign currencies and make it easier for businesses to access loans in US dollars to import commodities.

According to commercial banks and credit organisations, the interest rates on VND on the inter-bank market increased slightly from 0.03 percent to 1.92 percent per year. The average rate for one-year term loans reached 8.37 percent per year – the highest figure in the week.

VOV

>   Bonds post worst week since April as stocks surge (15/06/2009)

>   Central bank to ease loan subsidy conditions for farmers (15/06/2009)

>   Banks lend $19 billion under government subsidy program (15/06/2009)

>   Disbursement of the interest rate subsidy program to June 11, 2009 (13/06/2009)

>   Investors selling gold to purchase stocks (13/06/2009)

>   Disbursement of the IRSP to June 11, 2009 (12/06/2009)

>   SBV and ATTF cooperate in transferring financial technology (12/06/2009)

>   ANZ Bank allowed to continue providing derivative products (12/06/2009)

>   Insurance joint venture launched (12/06/2009)

>   Insurance buoyant after strong growth (12/06/2009)