USD Exchange Rate Today Feb 20, 2024: Banks Uniformly Increase Rates
On the morning of February 20th, 2024, Vietnam's state bank SBV announced the reference exchange rate between the VND and USD increased by 9 dong to 23,988 dong. Exchange rates at commercial banks also saw uniform increases across the board.
Governor Nguyen Thi Hong: The mass withdrawal incident at SCB Bank had a strong impact
In 2023, in addition to the complex difficulties of the world economic situation, the mass withdrawal incident at SCB Bank at the end of 2022 will have a strong impact on liquidity and market psychology in 2023, according to the Governor of the State Bank of Vietnam Nguyen Thi Hong.
Capital flows may leave Vietnam when the State Bank's 'magic wand' stops working
Speaking at the conference "Southern real estate embracing infrastructure development opportunities" organized by CafeLand, Dr. Nguyen Tri Hieu said that Vietnamese real estate has not yet seen "the light at the end of the tunnel".
SBV asks Eximbank to ward off interest groups
HCMC – The inspection and supervision body under the State Bank of Vietnam (SBV) has requested to Eximbank to exercise caution and integrity in its management and operations to ward off interest groups. In document No. 2666 sent to Eximbank, the inspection and supervision body urged the board
Banks lower deposit interest rates further
HCMC – State-owned and private banks have recently lowered their deposit interest rates in response to the decision by the State Bank of Vietnam (SBV) to further decrease deposit rates and key interest rates on June 16. Last week, four state-owned commercial banks, including Vietcombank,
Credit growth remains sluggish
HCMC – Outstanding loans in Vietnam had surpassed VND12.3 quadrillion in the year to mid-June, a 3.36% increase compared to December 2022 and a 8.94% rise against the same period last year. These figures were disclosed during a press conference held on June 21 by the State Bank of Vietnam (SBV),
More loosening on the horizon?
While interest rate cuts have yet to have a strong positive impact, tough access to capital and stagnant cash flow have yet to be addressed. Therefore, many are of the opinion that money supply needs to be loosened. Ample forex supply The first five months of this year saw a trade surplus of up to
Central bank lowers interest rate caps
HCMC – The State Bank of Vietnam (SBV), the country’s central bank, has once again lowered the maximum deposit interest rate for tenors below six months, the second reduction within nearly a month. Effective from June 19, the new cap for deposits of six months or shorter will be lowered by 0.25
Woes persist despite interest rate cut
Contrary to expectations, the stock market has remained lackluster since the State Bank of Vietnam (SBV) lowered key interest rates in late May. U.S. debt factor The SBV announced its decision to cut policy interest rates again on May 23, marking the third rate reduction since mid-March. But that
Bad debt on the rise
Bad debt has begun rising. Without a quick solution to keep it in check, bad debt would be once again a big problem for the economy, affecting future growth. VND600 trillion worth of bad debt Seven banks have let their bad debt ratio on the balance sheet exceed 3%, out of the 28 lenders that […]
Major banks further lower deposit interest rates
HCMC – Several major banks have slashed their deposit interest rates by 0.5 percentage point compared to those in mid-May, right after the State Bank of Vietnam (SBV) announced two decisions further lowering key interest rates in its easing cycle. Vietcombank has recently revised down its deposit
Central bank, 26 bank leaders convene
HCMC – The State Bank of Vietnam (SBV), the nation’s central bank, held a meeting to discuss interest rate reductions with 26 banks this morning, May 25. Information about the meeting has grabbed much attention as it comes amid the SBV’s key interest rate cut decision coming into force on the same