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Vietnam loan growth slows in Jan.

02-16-2011 08:52 BJT

Vietnamese businesses have been seeking dollar loans and selling the local currency, to take advantage of a gap between rates.

Vietnam's central bank says the country's loan growth slowed overall in January. Bank loans rose just 4 tenths of a percent month on month, slowing from the more than 2 percent expansion in December. Dong lending slipped nearly 0.1 percent from December, while dollar loans rose more than 2 percent.

Bankers say the gap in lending rates between the domestic currency and dollar has been hovering at around 10 percentage points. Business executives have also complained about high dong loan rates of 18 to 20 percent, which encourage them to deposit cash instead of expanding operations.

Editor:Xiong Qu |Source: CNTV.CN

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