Vietnam’s money supply rises 1.57pct in 2011 through May 19

Vietnam’s money supply rose 1.57 percent from the start of the year through May 19, according to a statement on the central bank’s website. Deposits at banks increased 1.4 percent in the same period, the notice said.

Money supply rose 0.28 percent and deposits increased 0.56 percent through May 19 compared with the end of April, the statement said. Dong deposits rose 1.32 percent, while dollar deposits fell 1.96 percent in that period.

Credit rose 0.01 percent through May 19 compared to end- April, with loans in foreign currency rising 2.19 percent, and dong loans dropping 0.64 percent. Credit grew 6.07 percent from the start of the year through May 19, the statement said.

Dong lending rates averaged about 18.3 percent in May, an increase of 3 percentage points from the end of 2010, the central bank said. The gap between dong lending and deposit rates averaged about 2.9 percentage points, it said.

The unofficial foreign-exchange market “continued to be tightly monitored” and was almost inactive in May, the State Bank of Vietnam said. The central bank made net purchases of about $877 million year to date, it said in the statement.  - Bloomberg

Tags: Vietnam banking industry, Vietnam finance, Vietnam financial

Posted by VBN on Jun 9 2011. 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