Base interest rate in VND put at 7% per year from May 1

Nhan Dan - The State Bank of Vietnam (SBV) on April 29 issued a decision no.137/TB-NHNN on several interest rates in VND applied from May 1.

Accordingly, the base interest rate in VND is put at 7% per year while the refinancing rate and the discount rate between the SBV and credit organisations are 7% and 5% per year respectively. 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 7% per year.

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