Base interest rate remains unchanged at 8% p.a.

The Governor of the State Bank of Vietnam (SBV) issued Decision No. 2561/QĐ-NHNN on October 27 on keeping the base interest rate unchanged at 8% p.a. The decision will take effect from November 1st, 2010.

It is notable that the VND base interest rate has remained unchanged for the 12th consecutive month. This Decision supersedes Decision No. 2281/QĐ-NHNN dated September 27, 2010 of the SBV Governor on the VND base interest rate.

On the same day, the SBV also issued Document No. 402/TB-NHNN to keep other interest rates unchanged as compared to the previous month. In particular:

- The refinancing interest rate is 8% p.a.,

- The discount rate is 6% p.a., and

- The overnight rate in the inter-bank electronic payment and the rate of loans to finance short balances in clearing transactions between SBV and commercial banks is 8% p.a.

Diem Hang

sbv

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