November 6, 2011
Legislators say all depositors at banks should be protected A draft law plans to restrict deposit insurance to local currency deposits only, sparking concerns of a mass withdrawal of dollars from banks. According to the National Assembly’s Economic Committee, it’s necessary to stop providing insurance cover for foreign currency deposits to support the government’s policies [...]
Tags: All Depositors, banks, currency, Currency Deposits, Deposit, Deposit Insurance, Depositors, deposits, dollar, Dollar Deposits, dollars, In The Country, insurance, Insurance Cover, Insurance Cover For, large, legislators, Local Currency, The country, Vnd50 Million
Posted in Business | Comments Off
August 1, 2011
Dollar loans in Vietnam rose 2.3 percent from May to June Several banks have broken an interest rate cap on dollar deposits in an attempt to attract funds to meet the increasing credit demand. In June, the State Bank of Vietnam lowered the rate cap on dollar deposits from 3 to 2 percent, and cut the limit for [...]
Tags: banks, Banks Offer, Chi minh, demand, deposits, dollar, Dollar Deposits, Dollar Interest, Dollar Interest Rates, Dollar Loans, Duong, Ho Chi, Ho Chi Minh, interest, Interest rates, loans, On Dollar Deposits, percent, Rate Cap, rates, Thanh, Thanh nien, The demand, The Limit, Vietnam
Posted in Business | Comments Off
July 30, 2011
Banks in VIetnam have stepped up sales of the dollar as they anticipate a move to reduce their dollar holdings, even as they compete to mobilize more of the greenback to meet increasing demand for dollar loans. “Buying foreign currencies now is easier than ever,” said Dao Duy Kha, deputy general director of Vietnam [...]
Tags: banks, Central, Central bank, Commercial, Commercial banks, Commercial Banks Are, credit, currency, current, demand, Demand For Dollar, Demand For Dollar Loans, deposits, director, dollar, Dollar Credit, Dollar Deposits, Dollar Holdings, Dollar Loans, dollars, Dong Deposits, exchange, Exchange rates, firms, For Dollar Loans, Foreign, Foreign Currencies, Foreign Currency, Foreign Exchange, Foreign Exchange Rates, General, General director, Huong, interest, Interest rates, Ldquo, Ldquo Banks, loans, Low Interest, Low Interest Rates, Mobilize, Of The Dollar, Of The Foreign, Of The Foreign Currency, On Dollar Deposits, On Dollar Loans, Per Dollar, percent, rates, Rdquo, reduce, Reduce Their Dollar, Said ldquo, sales, supply, Thanh nien, The central, The central bank, The current, The Dollar, The foreign, The Foreign Currency, Their Dollar, To Reduce Their, To Reduce Their Dollar, Vietnam
Posted in Business | Comments Off
June 28, 2011
Many banks with suplus cash are pouring money into the bond market. Low interest rates on dollar loans are attracting businesses. More than ever before, firms are opting for the foreign currency in a bid to escape escalating dong rates. But economists warn that exchange rates will jump in the coming months, when the central [...]
Tags: banks, Borrowing Dollars, Central, Central bank, Commercial, Commercial banks, currency, Currency Loans, Currency Reserves, director, dollar, Dollar Deposits, Dollar Loans, dollars, Dong Loans, exchange, Exchange rate, firms, Foreign, Foreign Currency, Foreign Currency Loans, Foreign Currency Reserves, Foreign Exchange, Foreign Exchange Rate, From Commercial Banks, From The State, From The State Bank, General, General director, interest, Interest rates, Its Foreign, Its Foreign Currency, Its Foreign Currency Reserves, Its Rate, Its Rate Cap, Kien Long Bank, Last month, Ldquo, loans, Long Bank, Lowered Its Rate, Lowered Its Rate Cap, month, Nguyen, Of Kien Long, Of Kien Long Bank, On Dollar Loans, On Dong Loans, percent, Rate Cap, rates, Rdquo, reserves, Said The Dollar, state, State bank, The bank, The central, The central bank, The Dollar, The foreign, The Foreign Currency, The state, The state bank, Vietnam
Posted in Business | Comments Off
June 4, 2011
Vietnam’s dong gained against the US dollar on Thursday after the central bank reduced interest rates for dollar deposits to support the local currency. Government bonds rose. The State Bank of Vietnam lowered the rate cap on dollar deposits by individuals to 2 percent from 3 percent, and cut the limit for institutions to [...]
Tags: Bloomberg, By Bloomberg The, Central, Central bank, currency, deposits, dollar, Dollar Deposits, Its Website, percent, Percentage Point, state, State bank, The central, The central bank, The Dong, The state, The state bank, Thursday, Vietnam
Posted in Business | Comments Off
June 2, 2011
Vietnam’s central bank ordered lenders to set aside more dollars as reserves for the second time in less than two months, escalating the nation’s fight to steady the dong and quell the highest inflation in Asia. The reserve-requirement ratio on US dollar deposits will rise by 1 percentage point to a range from 4 [...]
Tags: 13 Percent, 14 Percent, 15 Percent, Bloomberg, Central bank, credit, Credit Growth, currency, deposits, dollar, Dollar Deposits, dollars, earlier, effective, February, growth, inflation, Interest rates, money, months, ordered, percent, Rate For The, rates, Reserve, Reserve Requirement, state, State bank, steady, Steady The Dong, The Dong, The Fourth, The highest, The Nation, The state, The state bank, This year, To Steady The, To Steady The Dong, Vietnam
Posted in Business | Comments Off
April 26, 2011
Vietnam has capped dollar deposit rates at 3 percent for individuals and 1 percent for institutions In another effort to curb dollar hoarding and increase foreign currency circulation in Vietnam, the central bank may slash interest rates on corporate dollar deposits to zero percent, VnExpress reported Monday. The news website cited Nguyen Hoang Minh, director of [...]
Tags: Capped Dollar, Capped Dollar Deposit, Capped Dollar Deposit Rates, Corporate Dollar, Corporate Dollar Deposits, Deposit Rates, deposits, dollar, Dollar Deposit, Dollar Deposit Rates, Dollar Deposits, For Individuals And, Foreign Currency, individuals, percent, Percent For Individuals, Percent For Individuals And, Percent For Institutions, rates, The central, Vietnam
Posted in Business | Comments Off
April 25, 2011
New central bank directives to reduce dollar hoarding, economist says A local commercial bank staff receives bricks of dong bank notes from a customer in Hanoi. A government advisor says people will soon start saving their money in dong. A new cap on dollar deposit rates – 3 percent for individuals and 1 percent [...]
Tags: &ndash, abroad, At Commercial Banks, banks, Central bank, Commercial, Commercial banks, currency, deposits, dollar, Dollar Deposit, Dollar Deposits, Dollar Interest, Dollar Interest Rate, Dollar Loans, Dollar Reserve, Dollar Reserve Ratio, Foreign, Foreign Currency, Foreign Currency Will, Government, High interest, High Interest Rates, Hoang Ngan, Huong, increase, interest, Interest rate, Interest Rate Cap, Interest rates, Interest Rates The, Interest Rates The Government, loans, Local, market, Market Tran, Market Tran Hoang, Market Tran Hoang Ngan, money, Nien Weekly, Of Savings The, On Dollar Deposits, On Dollar Loans, On The Market, Outstanding, Outstanding Dollar, Outstanding Dollar Loans, overseas, Overseas Remittances, people, People Will Soon, People Will Soon Start, percent, Rate Cap, rates, Rates The Government, ratio, Ratio Increase, reduce, Reduce Dollarization, remittances, Remittances Rdquo, Reserve, Reserve Ratio, Reserve Ratio Increase, Saving Their Money, Soon Start, Soon Start Saving, Soon Start Saving Their, Start Saving, Start Saving Their, Start Saving Their Money, state, State bank, Thanh nien, Thanh Nien Weekly, The Dollar, The Dong, The government, The interest, The Interest Rates, The market, The Ratio, The Reserve, The Reserve Ratio, The state, The state bank, The world, Their Money, Tran Hoang, Tran Hoang Ngan, Vietnam, Vietnamese, Vietnamese Citizens, Will Soon Start, Will Soon Start Saving, Working Abroad
Posted in Reports | Comments Off
April 25, 2011
Economists said the recent decline in the dollar was a positive signal Many companies and individuals have sold their foreign currency to banks, causing the dollar to fall sharply against the dong over the past week, bankers said. Truong Van Phuoc, general director of Eximbank, said as interest rates on dong deposits are now high [...]
Tags: banks, companies, currency, deposits, dollar, Dollar Deposits, dollars, Dong Deposits, General, General director, interest, Interest rate, Many companies, On Dong Deposits, Over The Past, Over The Past Week, Past week, percent, Positive Signal, Said The Recent, The country, The Dollar, The past, The past week, The Recent, Vietnam
Posted in Business | Comments Off
April 16, 2011
Local banks have lowered their interest rates on dollar deposits. Economists and bankers are expecting a switch from dollar holdings to dong assets after the central bank capped the interest rate on dollar deposits. The State Bank of Vietnam has capped dollar deposit rates at 3 percent for individuals and 1 percent for institutions, effective [...]
Tags: 14 Percent, Asia commercial, Asia commercial bank, Asia Commercial Bank Said, Bank Association, Bank Said Dollar, Bankers, banks, Central bank, Commercial bank, Commercial Bank Said, currency, deposits, Deposits The State, Deposits The State Bank, dollar, Dollar Deposit, Dollar Deposits, Dollar Loans, Dong Deposits, Foreign, Foreign Currency, interest, Interest rate, Interest rates, lending, Lending Rates, loans, Local, Local Banks, Local Banks Have, New Rule, Of Asia Commercial, Of Asia Commercial Bank, On Dollar Deposits, On Dong Deposits, On The Dong, percent, Rate Cap, rates, Said Dollar, State bank, The Cap, The central, The central bank, The Dong, The new, The New Rule, The Rate, The Rate Cap, The state, The state bank, To Raise Their, Vietnam, Vietnam Bank, Vietnam Bank Association
Posted in Business | Comments Off
