At the end of July, consumer deposits in Vietnamese banks were up 8.93 percent over the end of 2022 reaching their highest level ever, Doanh Nhan Vietnam is reporting. This is despite deposit interest rates being on a downward trend. The publication says this is due to a lack of other investment options and an aversion to risk with respect to stocks and the real estate market.
Notably, the VN-Index, made up of a basket of stocks listed on the Ho Chi Minh City Stock Exchange, has been on a wild ride this year with the State Bank of Vietnam policy in a seemingly constant state of flux as it tries to stimulate growth and control the exchange rate both at the same time.