final stage in 2008 and in 2009
and 208 in late 2009
Q4 2008, used state banks loosen monetary policy and interest rate instruments coong remains an important tool
base rate a decrease from 14% a year to 8.5% per annum
interest paid on required reserves, then turn increases: 3.5% / year, 5% / year, 10% / year, then decreased, but at a reduced rate slow
compulsory bills are paid before maturity: exchange rate band was loosened from -2% to + + -3% mandatory reduction ratio from 10% to 5% on a year on year and the discount rate , the refinancing interest rate also decreased
in the period 2009
209 dry year, a year in which monetary policy was faced with unforeseen challenges arising from the inadequacies of the economy and the impact of the terrible disadvantages financial crisis and economic downturn.
high inflation in 2008, along with the reversal of foreign capital and a strong deficit of the trade balance (12 783 billion dollars) had a strong impact on the market to investors fOREX cause unpredictable changes to the rates
of state banks have implemented monetary policy in a flexible manner synergies with other solutions to keep market stability.
money market ever stabilizing steps, however 6 months of 2009 the foreign exchange market has truwngf unfavorable fluctuations
banks extended trading exchange rate usd / VND
interest rate for foreign currency loans fell from 6-6.5% / down 3% year / year since 01/9/2009 not exceed deposit rates fell to less than 1.5% / year
sell foreign currencies obtained government bond issuance for state-owned banks; suggest some large importers to switch from foreign currency to buy foreign currency loans.
gauge measures to limit foreign currency psychology of businesses and citizens as to promote the dissemination and publication widely publicized information about the situation of foreign exchange rates. require the state commercial banks to reduce interest rates for loans and deposits in foreign currencies
in addition, rising budget deficits, the deficit in 2009 at 6.5% of GDP budget forced to borrow more, through that pressure decreased VND
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