Vietnam cuts dong loan rate to 10.2 pct to support exports

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Vietnam has cut the interest rate on dong loans used to support export activities to 10.2 percent per year from 11.4 percent previously, the central bank said on Thursday.

The new rate came into force as of Jan. 17, the State Bank of Vietnam web site (www.sbv.gov.vn) said in a statement, citing a Finance Ministry circular.

Vietnam aims to boost export revenues this year by 10 percent to around $126 billion, after an annual expansion of 18.2 percent in 2012 to $114.6 billion, the trade ministry has said.

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