Vietnam banks raise interest rates amid inflation

A customer makes a deposit at a bank in Bình Dương Province. - VT

HANOI (Xinhua): Many banks in Vietnam have increased deposit interest rates by 0.1 to 0.6 percentage points amid the growing demand for funds and inflationary pressure, local media reported on Wednesday (May 18).

The rates have increased sharply since the beginning of this month, with the peak at 6.5 per cent to 7.4 per cent, the daily newspaper Vietnam News reported.