Headlines 27/09/2022 14:30 CH

The State Bank of Vietnam to increase the refinancing rate and rediscount rate

Ngọc Duy

Decision No. 1606/QD-NHNN dated September 22, 2022 on the refinancing rate, rediscount rate, overnight rate for inter-bank electronic payment, and interest rate for loans for covering the capital shortfall regarding clearing of the State Bank of Vietnam for credit institutions and branches of foreign banks.

According to the Decision, the adjustment to interest rates of the State Bank of Vietnam is as follows:

- Refinancing rate: 5,0%/year;

- Rediscount rate: 3,5%/year;

- Overnight rate for inter-bank electronic payment and interest rate for loans for covering the capital shortfall regarding clearing of the State Bank of Vietnam for credit institutions and branches of foreign banks: 6,0%/year.

Compared to Decision No. 1728/QD-NHNN dated September 30, 2020, the mentioned interest rates have increased by 1,0%/year.

Decision No. 1606/QD-NHNN comes into force as of September 23, 2022 and replaces Decision No. 1728/QD-NHNN 2020.

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