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Bank deposits rise during first two months as interest falls   2009-03-09 - VietNamNet/VNS

Total bank deposits increased 1.62 per cent in February against the previous month and 0.44 per cent against December, the State Bank of Viet Nam reports.

The report shows that yearly interest rates for dong deposits increased 0.3-1 per cent to 6.8-7.5 per cent from the middle of February.

Yearly interest rates for dollar deposits have fallen 0.2-0.5 per cent since December to 2.2-3.5 per cent.

Yearly interest rates for dong loans fell 2.5-4 per cent to 8-10.5 per cent while yearly dollar loans fell from 0.2-1.5 per cent to 5.7-7.4 per cent.

Total payment instruments were estimated to increase 0.48 per cent in February against January or 3.2 per cent against last December.

The volume of cash distributed from the banking system increased 17.67 per cent against late last year.

Capital investment in February was estimated to have grown 0.23 per cent against January and 0.54 per cent against December.

Investment in dong was up 1.35 per cent and down 2.69 per cent against the dollar.

The central bank says the improved supply of foreign currency ensured that official foreign exchange rates were stable.

Public sentiment was responsible for the higher rate on the street.

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