VND mobilizing rate at high level

The State Bank of Vietnam (SBV)’s Binh Duong branch said that as of late January 2023, the deposit interest rate in VND at commercial banks in the province remained at a fairly stable level. The direction of mobilized capital flow was mainly VND.

Accordingly, the total mobilized capital reached more than VND 276.27 trillion, including more than VND 249.81 trillion from VND deposits or 90.42% of total, more than VND26.45trillion from foreign currency deposits or 9.58% of total. The SBV’s Binh Duong branch said that capital mobilization with the majority of VND showed that the policy of deposit rate ceiling in US$ at 0% has contributed to reducing the amount of foreign currency hoarded by people and businesses, boosting the level of deposit mobilization in VND.

Reported by Thanh Hong-Translated by Kim Tin

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