DECISION

ON THE BASE INTEREST RATE IN VIETNAM DONG

THE GOVERNOR OF THE STATE BANK

- Pursuant to the Law on the State Bank of Vietnam in 1997; the Law on the amendment, supplement of several Articles of the Law on the State Bank of Vietnam in 2003;
- Pursuant to the Law on Credit Institutions in 1997; the Law on the amendment, supplement of several Articles of the Law on Credit Institutions in 2004;
- Pursuant to the Decree No. 52/2003/ND-CP dated 19 May 2003 of the Government providing for the functions, duties, authorities and organizational structure of the State Bank of Vietnam;
- Upon the proposal of the Director of the Monetary Policy Department,

DECIDES:

Article 1. To announce the base interest rate in Vietnam Dong to be of 14% per annum.

Article 2. This Decision shall be effective from 1 July 2008 and replace the Decision No. 1317/QD-NHNN dated 10 June 2008 of the Governor of the State Bank on base interest rate in Vietnam Dong.

Article 3. The Director of Administrative Department, the Director of the Monetary Policy Department and Head of units of the State Bank of Vietnam, General Managers of the State Bank branches in provinces, cities under the central Governments management; Board of Directors and General Directors (Directors) of Credit Institutions shall be responsible for the implementation of this Decision.

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