Nhan Dan Online - From January 1, 2009, the interest rate applicable to excessive amount of reserve requirement in foreign currencies of credit institutions and the State Treasury’s foreign currency deposits with the State Bank of Vietnam is 0.5% per year.

This is according to a decision signed by the Governor of the State Bank of Vietnam on December 31, 2008.

This new interest rates will replace the rates stipulated in Article 3 of Decision No. 923/QD-NHNN dated July 20, 2004 on the interest rates applicable to the reserve requirement deposits of credit institutions, and the regulation in Decision No. 667/QD-NHNN dated June 26, 2003 on the interest rate of US dollar demand deposits of credit institutions and the State Treasury with the SBV.