Illustrative photo (Photo: energitoday.com) Jakarta (VNA) - Indonesia’s central bank on November 15 decided to raise its benchmark interest rate for the sixth time this year to lower the country’s yawning current-account deficit. Bank Indonesia (BI) raised its 7-day reverse repurchase rate by 25 basis points to 6 percent. Seventeen of 19 analysts participating in a Reuters poll forecast that the bank will keep the interest rate unchanged at the upcoming conference. The key rate has now been hiked six times by a total of 175 basis points since May, as BI tried to slow capital outflows triggered by rising US rates and aimed to put a floor under the fragile rupiah. BI Governor Perry Warjiyo said the Indonesian Government is making efforts to stabilise the monetary market. The local currency has seen a strong recovery since early November thanks to confidence in the improvement in the global economic prospects. However, it is facing a risk of depreciating again. In … [Read more...] about Indonesian central bank raises interest rate for sixth time
Interest rates
Trung Luong-My Thuan Expressway burdened by interest rate: minister
Trung Luong-My Thuan Expressway burdened by interest rate: ministerBy Trung Chanh and Lan Nhi The Trung Luong-My Thuan Expressway project is under construction – PHOTO: TRUNG CHANH CAN THO – The Trung Luong-My Thuan Expressway project, a section of the HCMC-Can Tho Expressway, currently faces big woes from the great disparity between the lending interest rates regulated by the Ministry of Finance and those set by banks, according to Minister of Transport Nguyen Van The. Responding to questions on the project at a question-and-answer session today, November 1, at the sixth National Assembly (NA) sitting, the minister said the project was still under construction. As regulated in Circular 75, issued by the finance ministry, banks are required to charge an annual interest rate of about 7.5% for build-operate-transfer (BOT) projects. However, the lenders currently apply a higher lending rate of some 10.5% for BOT projects similar to the expressway, said The, adding … [Read more...] about Trung Luong-My Thuan Expressway burdened by interest rate: minister
Lending interest rate high in Vietnam
VietNamNet Bridge - The developers of road projects under the BOT (build, operate, transfer) investment mode complain that lending interest rates are too high, up to 10.5 percent per annum. The developers of road projects complain that the interest rates are too high By May this year, and after 20 years of implementation, 68 road projects had been developed under the BOT mode with total investment capital of VND208 trillion, according to a report. By May this year, and after 20 years of implementation, 68 road projects had been developed under the BOT mode with total investment capital of VND208 trillion, according to a report. BOT is believed to be a good investment mode for infrastructure in the context of the state’s tight budget. US$1=VND22,000 RELATED NEWS Unstable policy keeps foreign investors away from BOT projects Investors, bankers flee from BOT projects Kim Chi … [Read more...] about Lending interest rate high in Vietnam
Lending interest rates on the rise at domestic banks
VP Bank has made a 0.5-1.0 percentage point increase on loans at all terms. (Photo: VNA) Hanoi (VNS/VNA) - Interest rates for VND loans have increased in the past two months after holding steady in the first half of the year. Reports from the Ho Chi Minh Securities Company showed that the rates rose by 0.46 percentage points against the end of last year to 7-9 percent per year for short-term loans and 9-12.5 percent for medium and long-term loans. The reports named some banks such as Agribank, Military Bank, Sacombank, VP Bank and ACB, which have adjusted rates upwards in the past two months. Agribank has increased the rates on short-term loans by 0.2 percentage points and 0.7-1.3 percentage points for medium and long-term loans. Sacombank and VP Bank have made a 0.5-1.0 percentage point increase on loans at all terms while Military Bank has adjusted up the rates by 0.95 percentage points on short-term loans. ACB also hiked the rate for medium and long-term loans … [Read more...] about Lending interest rates on the rise at domestic banks
Lending interest rates on the rise at VN banks
VP Bank has made a 0.5-1.0 percentage point increase on loans at all terms. - VNA/VNS PhotoViet Nam News HÀ NỘI – Interest rates for Vietnameseđồng loans have increased in the past two months after holding steady in the first half of the year. Reports from the Ho Chi Minh Securities Company showed that the rates rose by 0.46 percentage points against the end of last year to 7-9 per cent per year for short-term loans and 9-12.5 per cent for medium and long-term loans. The reports named some banks such as Agribank, Military Bank, Sacombank, VP Bank and ACB, which have adjusted rates upwards in the past two months. Agribank has increasedthe rates on short-term loans by 0.2 percentage points and 0.7-1.3 percentage points for medium and long-term loans. Sacombank and VP Bank have made a 0.5-1.0 percentage point increase on loans at all terms while Military Bank has adjusted up the rates by 0.95 percentage points on short-term loans. ACB also hiked the … [Read more...] about Lending interest rates on the rise at VN banks