15:10 | 21/12/2015 Finance - Banking
From December 18, interest rate on dollar deposits dropped from 0.25% to only zero percent, announced the State Bank of Viet Nam (SBV).
According to Decision No.2589/QD-NHNN, released on late December 17, organisations, excluding credit institutions or branches of foreign banks, will not receive interest for dollar accounts.
The SBV said that the decision was made to continue implementing concerted measures to increase the value of VND 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 Viet Nam to change its policy on stabilising foreign exchange rates./.