DECISION

ON THE ADJUSTMENT OF BASE INTEREST RATE IN VIETNAM DONG

THE GOVERNOR OF THE STATE BANK

-  Pursuant to the Law on the State Bank of Vietnam issued in 1997; the Law on the amendment, supplement of several Articles of the Law on the State Bank of Vietnam issued in 2003;
- Pursuant to the Decree No. 52/2003/ND-CP dated 19 May 2003 of the Government providing for the functions, assignments, 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 8.75% per year.

Article 2. This Decision shall be effective from 01 February 2008 and replace the Decision No. 3096/QD-NHNN dated 31 December 2007 of the Governor of the State Bank of Vietnam on the base interest rate in Vietnam Dong.

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

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THE GOVERNOR OF THE STATE BANK OF VIETNAM




Nguyen Van Giau