Vietnam Central Bank Fixes Rate of Forex Surplus of Reserves at 0.5 per cent
The State Bank of Vietnam, the country's central bank, has said in a statement that it has fixed interest rate of forex surplus of the required compulsory reserves at 0.5 per cent per annum from Jan 1 this year.
The rate will be applied to foreign currencies deposited at State Treasury.
Currently, interbank forex trading rate of U.S. dollar against the dong is closely following the ceiling after the SBV let the dong dip 3 per cent.
The SBV has announced seven measures to ensure liquidity and security of the economy to avert recession, it has said.
In late 2008, the SBV announced that Vietnam’s forex reserves exceeded US$20.7 billion of 2007. (SBV)
Vietnamese
