Annual interest rate on dollar deposits cut to zero percent
The maximum interest rate paid to individuals depositing USD in local banks will be zero percent per year from December 18, the central bank announced.
Hanoi (VNA) – The maximum interest rate paid to individuals deposit෴ing USD in local banks will be zero percent per year from December 18, the central bank announced.
Organisations, excluding credit institutions or branches of foreign banks, will also not receive interest for dollar accounts.
This notice was confirmed in Decision No.2589/QD-NHNN released on late December 17.
Prior to the change, the maximum interest rate for individuals was 0.25 percent per annum.
The central bank said the decision was made to continue implementing concerted measures to increase the value of Vietnam dong and curb the dollarisation of the economy.
Earlier on December 17, the US Federal Reserve (FED) decided to raise interest rates by 0.25 percentage points, which, however, has not prompted the State Bank of Vietnam to change its policy on stabilising foreign exchange rates.
Vietnam’s forex market saw almost no fluctuations after the FED decision and the prices of US dollar at commercial banks remained at the ceiling, experts said.
As of 8:20 am, Vietcombank quoted selling price of USD at 22,547 VND and buying price at 22,517 VND, the same rates as BIDV. Meanwhile, Eximbank kept its buying and selling rates steady at 22,497-22,547 VND per one USD.
The green notes have rebounded quickly and hit the ceiling since earlier this week. The commercials banks also raised the buying price after pegging the selling one to the ceiling in anticipation of the US central bank’s adjustment.-VNA
State Bank of Vietnam's Governor Nguyen Van Binh is planning a more flexible monetary policy in the second half of this year to achieve credit growth of 12 to 14 percent by year-end.
The State Bank of Vietnam (SBV) will keep a close watch on the developments of domestic and global macro economies and monetary markets to assure synchronous exchange rate management.
The US FED’s decision to raise interest rates by 0.25 percentage points on early December 17 has not prompted the central bank to change its policy on stabilising foreign exchange rates
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Vietnam Cycle Expo 2025 will coincide with the Vietnam Sport Show 2025, an international exhibition on sports and outdoor entertainment, expected to attract more than 20,000 visitors in the three-day event.
Despite global economic uncertainties, Binh Duong has maintained strong momentum in both exports and industrial production during the first half of 2025.
Illustrative image (Photo: VNA)
