Interbank rates increase to 13.3pct

Interbank lending interest rates during the week of September 3-9 increased to as high as 13.3 percent per year, according to the latest report of the State Bank of Vietnam released on Wednesday.

Trading in Vietnamese currency on the interbank market totalled 147.75 trillion dong (US$7.6 billion) during the week, while US dollar trades reached $4.16 billion, down slightly from the previous week.

Six-month loans witnessed the strongest surge, up 1.64 percentage points to 13.3 percent per year. Interest rates on other terms increased by 0.2-0.58 percentage points to a range from 9.09-11.26 percent per year.

The overnight interest rate was up 0.39 percentage points to 7.16 percent per year.

In contrast, lending rates on US dollar-denominated loans were down across the board. Twelve-month term loans fell the most deeply, to carry an average interest rate of 3.13 to just 1.99-per cent. – Vietnamnews

Tags: vietnam bank, Vietnam finance, Vietnam financial, Vietnam interest rates

Posted by VBN on Sep 21 2010. Filed under Banking-Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry