TO REDUCE REFINANCING INTEREST RATE TO 4.0%/YEAR FROM OCTOBER 01
On September 30, 2020, the State Bank of Vietnam promulgates the Decision No. 1728/QD-NHNN on the refinancing interest rate, re-discount interest rate, overnight lending interest rate in inter-bank electronic payment and lending to offset the capital shortage in the clearing of the State Bank of
Vietnam for other banks.
Accordingly, the State Bank reduces the refinancing interest rate and re-discount interest rate from 4.5%/year and 3.0%/year to 4.0%/year and 2.5%/year, respectively. The overnight lending interest rate in inter-bank electronic payment and lending to offset the capital shortage in the clearing of the State Bank of Vietnam for other banks is also reduced from 5.5%/year to 5.0%/year.
This Decision takes effect on October 01, 2020.
