State-owned commercial banks such as Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV), Bank for Agriculture and Rural Development of Vietnam (Agribank) and Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) all cut their lending interest rates for the prioritized sectors by 0.5 percent. … [Read more...] about Lending interest rate cut yet to benefit many enterprises
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In fact, the SBV operates mainly through interest rates in transactions with commercial banks, including rediscount interest rate, refinancing interest rate, overnight interest rate in the inter-bank electronic payment and lending rates to compensate for the capital shortage in clearing payment, open market operations (OMO) interest rates, and treasury bill interest rates, which have been adjusted down by the central bank. … [Read more...] about Cutting central bank’s interest rate to stabilise lending rates
MM Mega Market said there is imported pork at the supermarket chain, but the amount is very small, just accounting for 3 percent. This means that 97 percent of pork available there is from domestic sources. Tran Van Minh, a merchant at Tan Xuan Market, also said that the high price has cut pork sales. The meat supply has improved thanks to the live pigs imported from Thailand. In addition, frozen pork is akso available at some big markets. … [Read more...] about Where is all the imported pork?
The interest rates of many banks have been adjusted up 0.7-0.8 percent per year in recent days. According to experts, in addition to banks’ need for money to meet lending demand, the rates often hike during the year-end.Race becomes fiercer The Saigon - Hanoi Commercial Joint Stock Bank (SHB) has just posted its highest interest rate at 8.2 percent per year, applied for all 13-month deposits. The rate has also been raised from 7 percent to 7.8 percent for six-month term, 8 percent for nine-month term, and 8.1 percent for 12-month term. Earlier, the highest annual interest rate was 7.2 percent. … [Read more...] about Medium- and long-term capital pressure forces banks to hike rates
Hanoi (VNA) - The State Bank of Vietnam set the daily reference exchange rate at 23,157 VND/USD on January 17, up 1 VND from the previous day. With the current trading band of +/-3 percent, the ceiling rate applied to commercial banks during the day is 23,851 VND/USD and the floor rate 22,462 VND/USD. The opening hour rates at most commercial banks stayed stable. At 8:15 am, Vietcombank listed the buying rate at 23,095 VND/USD and the selling rate at 23,245 VND/USD, unchanged from the same time on January 16. At BIDV, both rates also remained the same as at the same time on January 16, with the buying rate listed at 23,125 VND/USD and the selling rate at 23,245 VND/USD. Techcombank cut 9 VND from both rates, listing the buying rate at 23,086 VND/USD and the selling rate at 23,226 VND/USD. During the week from January 13 to 17, the daily reference exchange rate was adjusted up on Wednesday and Friday and down on the remaining days. Overall, the rate ended the week lower … [Read more...] about Reference exchange rate up 1 VND on January 17