Sonali bank foreign exchange rate

The workshop to announce the report (Photo: VNA)      Hanoi (VNA) – There would be no big fluctuations in the foreign exchange rate and interest rate in 2019 as pressure caused by the normalization of monetary policy in major economies in the world has eased, according to the Vietnam Institute for Economic and Policy Research (VEPR) under the VNU University of Economic and Business.   In a report on the macro economy in the first quarter released on April 11, the VEPR research group noted that the daily reference exchange rate set by the State Bank maintained a rising trend since the beginning of the fourth quarter of 2018 to the end of the first quarter this year. At the end of March, the rate was nearly 1 percent higher than the level one year ago, lower than the 1.4 percent yearly gain in the fourth quarter of 2018.   Meanwhile, the VND/USD exchange rates listed at commercial banks stayed close to the ceiling rate in the trading band of 3 … [Read more...] about No big changes in exchange rate, interest rate in 2019: research institute

Lately, the buying price of the US dollar was also raised by VND6 per dollar by the Operations Center of SBV. The operator is supposed to take advantage of favorable market conditions to buy in the US dollar, increasing foreign-exchange reserves. Last year, the reference exchange rate gained 1.45 percent in total while exchange rate on interbank market as well as free foreign exchange market surged roughly 2.38 percent and exchange rates at commercial banks climbed 2.16 percent. The US dollar exchange rate against the Vietnamese dong increased mainly because the US Federal Reserve had raised its benchmark interest rate for four times to 2.25-2.5 percent per annum. In addition, some other foreign currencies had devalued by 2.5-10 percent compared to the US dollar. Of which, the Chinese renminbi depreciated up to 10 percent. However, exchange rates at commercial banks have been calm since the beginning of the year. At Vietcombank, the exchange rate closed at VND23,150-VND23,250 per … [Read more...] about SBV increases reference exchange rate, foreign-exchange reserves

A member of staff at a bank change the  numbers showing interest rates. Many commercial bank raised deposit interest rates in recent months. (Photo vietnamfinance.vn Hanoi (VNS/VNA) - Many commercial banks raised deposit interest rates in recent months, triggering worries about the increasing pressure on the lending rates. But some insist this was only a short-term measure. From the beginning of December, rates for deposits of less than six month terms were mostly increased to the ceiling of 5.5 percent and 5.7-7.6 percent for deposits of six to 12 month terms. For long-term deposits, rates were raised from 6.5-8 percent per year popular in the first months of this year to currently 8.5-8.7 percent. National Citizen Bank, Viet Capital Bank, Bac A Bank, VPBank, PVComBank, VietA Bank, Sai Gon Commercial Bank and Orient Commercial Bank were among those offering 7 percent interest rate for deposits of six-month term. At VPBank, depositors would be provided rates of up to 7.7 … [Read more...] about Banks raise deposit rates in short-term