Developments in Money Market and Inter-bank Market (July 5 - 9, 2021)
1. Forex market and exchange rates:
During July 5 - 9, 2021, the exchange rates and the forex market were relatively stable, and the market liquidity was ensured for smooth operations. On July 5, the buying and selling exchange rates quoted on the website of the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) were at VND 22,900/23,100 per USD, unchanged as compared to those of the last working day of the previous week (July 2, 2021). By end of July 9, the exchanged rates were quoted at VND 22,900/23,100 per USD, unchanged as compared to the rates of July 5, 2021.
2. Inter-bank transaction operations:
2.1. Transactions:
According to the reports submitted by the credit institutions and the foreign bank branches, the total amount of transactions in the inter-bank market within the week reached approximately VND 711,275 billion, an average of VND 142,255 billion per day, a decrease of VND 5,963 billion per day as compared to the previous week (June 28 – July 02, 2021); meanwhile the transaction amount in USD was equivalent to VND 146,110 billion, an average of VND 29,222 billion per day, a decrease of VND 11,625 billion per day as compared to the previous week.
Most VND transactions were for overnight term and 1-week term, accounting for 80% and 12% of the total amount of VND transactions respectively. The transactions in USD were mostly for overnight term and 1-week term, accounting for 70% and 21% of the total amount of USD transactions respectively.
2.2. Inter-bank interest rates:
- For transactions in VND: The average inter-bank interest rates fluctuated slightly as compared to those of the previous week. Specifically, the average inter-bank interest rates for overnight, 1-week and 1-month terms were 0.95% p.a, 1.13% p.a and 1.36% p.a respectively.
- For transactions in USD: The average inter-bank interest rates were relatively stable, with slight fluctuations around the rates of the previous week. Specifically, the average inter-bank interest rates for overnight, 1-week and 1-month terms were 0.1% p.a, 0.12% p.a and 0.25% p.a respectively.
The specific average inter-bank interest rates were as follows:
Unit: % p.a
Overnight |
1-week |
2-week |
1-month |
3-month |
6-month |
9-month |
|
VND |
0.95 |
1.13 |
1.28 |
1.36 |
2.12 |
2.18 |
3.00 |
USD |
0.10 |
0.12 |
0.15 |
0.25 |
0.34 |
0.84 |
- |
Translated by VA