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Deposits on Vietnamese dong considered the best investment channel

FRIday - 11/11/2011 17:47
Deposits on Vietnamese dong are now considered the best investment channel for individual investors due to the stability of the domestic currency, experts said.

 

Ha Noi—Deposits on Vietnamese dong are now considered the best investment channel for individual investors due to the stability of the domestic currency, experts said.

According to the State Bank of Viet Nam's website, thanks to declined inflation, deposits on Vietnamese dong are safer compared to other less attractive and more risky channels such as securities, real estate, the US dollar or gold.

At the moment, all commercial banks post their deposit interest rates for one-month terms or longer at 14 per cent per year.

Experts say that if the consumer price index (CPI) increases less than 1 per cent per month, such aforementioned deposit interest rates were a "good deal".

In fact, the General Statistics Office announced that the CPI rose only 0.36 per cent this month, marking the lowest level since the beginning of the year and the third consecutive month with a CPI increase under 1 per cent. —VNS

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