Foreign currency market signals positive signs
15:32 | 01/06/2011
VGP – The foreign currency market has signaled positive signs during the past week from May 21-27, according to a report released by the State Bank of Việt Nam.

At present, one USD is exchanged for around 20,520-20,610 VND in commercial banks with the supply of foreign currency ensured.

Banks’ efforts to address foreign currency shortage and a inflow of foreign indirect investment are noted among dominant features of the currency market.

Last week, the State Bank of Việt Nam continuously bought foreign currency to supplement its reserve.

The report also says that last week’ non-term USD deposit interest rate ranged from 0.1-1.0% per year, and term interest rate, from 2.6-3,0% per year.

Meanwhile, the lending interest rates were around 6-7.5% per year for short-term loans and 7-8.5%/year for medium- and long-term loans.

By Hải Minh

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