At a press briefing on April 14, Dao Xuan Tuan, head of the Foreign Exchange Management Department at the State Bank of Vietnam, said the number of applicants has increased by two compared to earlier this year.

He noted that the appraisal process is being conducted with strict scrutiny, and results will be announced once finalized.

Amid ongoing volatility in the gold market, authorities are implementing measures to maintain stability. Expanding the number of licensed producers and importers is expected to boost supply, helping to ease domestic price pressures and narrow the gap between local and global gold prices.

At the same briefing, Deputy Governor Pham Thanh Ha said interest rates saw notable fluctuations in the first quarter of 2026. By late March, the central bank had issued Directive No. 2342, urging credit institutions to take steps to stabilize interest rates.

Following a meeting on April 9 between the newly appointed governor and commercial banks, lenders agreed to keep rates stable while working toward reductions in both deposit and lending rates.

To date, 26 banks have lowered their listed deposit rates by around 0.1-0.5% per year, mainly for terms of six months or longer. The move is seen as laying the groundwork for further cuts in lending rates to support economic growth.

According to Pham Chi Quang, head of the Monetary Policy Department, the swift response by banks reflects a significant effort by the sector. The continued spread of lower deposit rates is expected to create favorable conditions for reducing borrowing costs.

He described the global backdrop as marked by “uncertainty,” citing disruptions in oil supply chains that have fueled global inflation through cost-push pressures.

Despite these challenges, the central bank remains committed to its monetary policy objectives of controlling inflation and maintaining macroeconomic stability.

Looking ahead, the regulator will continue pushing credit institutions to lower lending rates, recognizing both the challenges and the remaining room for further easing to support the broader economy.

Tuan Nguyen