VIETNAM CENTRAL BANK CUTS DEPOSIT RATES AND DEVALUES VND

HANOI - The State Bank of Vietnam (SBV) has cut its deposit rate for US dollar accounts effective June 28, and has announced a 1% devaluation in the VND to 21246/USD from 20828/USD.. Corporate deposit rates have been cut by 25 basis points to 0.25%, from 0.5% across all tenors, while individual deposit rates have been cut by 75 basis points to 1.25%, down from 2.00%.