With the currency exchange rate fluctuating in the first few weeks of 2024, Mr. Ngo Dang Khoa, Director of Foreign Exchange, Capital Markets and Securities Services at HSBC Vietnam, highlights four factors putting pressure on the USD/VND exchange rate in Q1/2024...

The demand for exchanging small denominations of money increases during the Lunar New Year, but the availability of small bills is limited. The familiar "money exchange kiosks" are also gradually disappearing from this service.

On the morning of February 1st, the domestic gold price continued to surge with an increase of 500,000 VND/tael, approaching the 78 million VND/tael mark. As Tet holiday approaches, the price of gold tends to rise sharply.

After the new appointments, Agribank's Executive Board now consists of 9 members, with Mr. Pham Toan Vuong as the CEO.

Several banks have announced their 2023 financial results, showing outstanding growth. However, they are also facing increased pressure in setting aside provisions for credit risk.

With these achievements, Vietcombank once again sets a new record for profitability in the banking industry.

Beginning February 1st, 2024, several banks have been adjusting their interest rates downwards for savings accounts ranging from 1 to 24 months. Based on a survey conducted across 16 banks, the highest annual interest rate for online savings deposits at a 6-month term is 5%, while for a 12-month term, it is 5.35%.

On February 2, Prime Minister Pham Minh Chinh presided over the 2024 Economic Cooperation Forum, focusing on "Enhancing State support policies in accordance with Resolution 20-NQ/TW - Driving force for the development of collective economy and cooperatives in the new phase."

Interest rates for deposits at Agribank have further decreased in early February 2024 compared to January. Specifically, individual customers' deposits are subjected to interest rates ranging from 1.7% to 4.9% per annum, while business customers' deposits are subjected to interest rates ranging from 1.7% to 4.2% per annum.

"Access a mysterious link to synchronize personal data, a woman from Hanoi receives a message from the police with a commitment to reimburse the entire amount that was stolen."