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Adjustments in interest rates of Vietnam State Bank

Lê Trương Quốc Đạt

11:13, 23/09/2022

On September 22, 2022, Vietnam State Bank issued Decision 1606/QD-NHNNon the refinance interest rate, Interest rates for overnight loans in inter-bank electronic payments.

According to Vietnam's Decision 1606/QD-NHNN, the operating interest rate is adjusted as follows:

- Refinance interest rate: 5.0%/year.

- Rediscount interest rate: 3.5%/year.

- Interest rates for overnight loans in inter-bank electronic payments and loans to cover capital shortfalls in clearing payments by the State Bank of Vietnam for credit institutions and foreign bank branches: 6.0%/year.

(Compared to Vietnam's Decision 1728/QD-NHNN dated September 30, 2020, all interest rates will increase by 1%/year)

Vietnam's Decision 1606/QD-NHNN takes effect from September 23, 2022, replacing Vietnam's Decision 1728/QD-NHNN dated September 30, 2020.

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