Decision No. 792/2002/QĐ-NHNN on the basic interest rate in Vietnamese Dong

DECISION OF THE GOVERNOR OF THE STATE BANK OF VIETNAM

Announce the basic interest rate in Vietnamese Dong

GOVERNOR OF THE STATE BANK OF VIETNAM

Pursuant to the Law on the State Bank of Vietnam and the Law on Credit Organizations dated December 12, 1997;

BASED ON DECREE NO. 15/CP dated March 2, 1993 of the Government on the tasks, powers, and responsibilities for state management of ministries and ministerial-level agencies;

Pursuant to the proposal of the Director of the Monetary Policy Department,

DECISION:

Article 1. Now announce the level of the basic interest rate in Vietnamese Dong at 0.62% per month (7.44% per year).

Article 2:

1. This Decision takes effect from August 1, 2002, and replaces Decision No. 678/2002/QĐ-NHNN dated June 28, 2002, on the basic interest rate of the Governor of the State Bank of Vietnam.

2. Heads of units under the State Bank of Vietnam, Governors of provincial and municipal branches of the State Bank of Vietnam; Boards of Directors and General Managers (Directors) of credit organizations are responsible for implementing this Decision./.