Regions bank refinance mortgage rates

Fitch Ratings forecasts Vietnam’s GDP growth to hit 3.3 percent this year, while the International Monetary Fund (IMF) has projected 2.7 percent. Both are the lowest growth rates recorded since Vietnam introduced its economic reforms in the 1986. … [Read more...] about Fitch Ratings lowers outlook on five Vietnam banks

Hanoi (VNA) - The State Bank of Vietnam set the daily reference exchange rate at 23,261 VND per USD on May 29, down 10 VND from the previous day. With the current trading band of  +/-3 percent, the ceiling rate applied to commercial banks during the day is 23,959 VND/USD and the floor rate 22,563 VND/USD. The opening hour rates at commercial banks all saw decreases. At 8:25 am, Vietcombank listed the buying rate at 23,180 VND/USD and the selling rate at 23,390 VND/USD, both down 20 VND from May 28. At BIDV, both rates were adjusted down 25 VND to 23,205 VND/USD (buying), and 23,385 VND/USD (selling).  Techcombank also adjusted both rates down 20 VND to 23,190 VND/USD (buying), and 23,390 VND/USD (selling). During the week from May 25 to 29, the daily reference exchange rate fluctuated variably and ended the week up 1 VND from Monday. The rates at commercial banks also fluctuated, mostly ending the week lower than at the week’s beginning./. … [Read more...] about Reference exchange rate down 10 VND on May 29

A teller counts Vietnamese banknotes. Since the outbreak of the novel coronavirus, banks in HCMC have provided support for some 224,000 local firms and household businesses – PHOTO: VNA HCMC – Banks in HCMC have lowered their interest rates and rescheduled loans worth VND290.5 trillion (US$12.4 billion) for around 224,000 firms and household businesses reeling from the coronavirus pandemic. … [Read more...] about HCMC banks offer support for 224,000 virus-hit businesses

The wooden church of Kon Tum province. This wooden church is located in the heart of an immense green forest and features an impressive rustic beauty. The church itself has been built using ca chit (Dipterocarpaceae) wood and is surrounded by walls made of straw-mixed soil. Utilising their great skill and working in immense detail, craftsmen have created decorative patterns imbued with cultural characteristics that are typical of the Central Highlands region. This spot also serves as an ideal check-in point for crowds of young people. Photo: Nguyen Khanh Vu Khoa. … [Read more...] about Seven must-visit destinations of the Central Highlands region

Tai Hui, head of the Standard Chartered Bank’s Asian research department, says that there are two factors that put pressure on the devaluation of the VND. First, the increase in the price of gold makes local investors pay more attention to gold than the Vietnamese currency. Second, the trade deficit may reach more than US$2 billion a month. Although this level is lower than in the first half of 2008 (about US$2.5-3 billion), it has raised great concern about the balance of payment, especially when FDI and overseas remittances are forecast to increase slightly. … [Read more...] about Increase basic interest rate – a good therapy for national economy