Topic: BVSC

Bao Viet Securities (BVSC) noted that the 12-month deposit interest rate had increased again by the end of July, by 0.07 percentage points to 5.77 per cent per annum. Rates may rise again in August. Instead of an increase of 0.1 to 0.2 percentage points, some banks raised rates by between 0.1 and 0.6 percentage points compared to June.

The VND lost 0.38 per cent against the USD in July and 2.21 per cent in the first seven months of the year. The Bao Viet Securities Company (BVSC), however, believes the currency will not depreciate by more than 3 per cent for the year as a whole given the flexible management of the State Bank of Vietnam.