Vietnam cut its interest rates to
support a slowing economy even as the nation faces Asia’s
fastest inflation.
The State Bank of Vietnam reduced the refinancing rate for
the first time since 2009 to 14 percent from 15 percent,
effective tomorrow, it said in a statement on its website today.
It also cut the discount rate to 12 percent from 13 percent and
the dong deposit cap for terms of one-month and above to 13
percent from 14 percent. SEE MORE On the second day of the cabinet meeting in Hanoi on Dec 23, Prime Minister Nguyen Tan Dung affirmed that the Government will target an inflation rate under 9 percent in 2012. SEE MORE 12:00 AM @ 01/01/1900
(VOV) - The Hongkong and Shanghai Banking Corporation (HSBC) has predicted that the weaker import demand and a controlled weakening of the exchange rate by the SBV will help stabilise the Vietnam dong (VND) in 2012.SEE MOREThe yen and dollar dropped against most major peers as Asian shares climbed on Chinese measures to sustain economic growth, curbing demand for refuge assets. SEE MORE HA NOI — The Vietnamese dong has strengthened
against the US dollar on both the official and black markets since the
Tet (lunar new year) holidays. SEE MORE
