Developments in Money Market and Inter-bank Market (May 4-7, 2021)
1. Forex market and exchange rates:
During May 4-7, 2021, the exchange rates and the forex market were relatively stable, and the market liquidity was ensured for smooth operations. On May 4-6, 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 22,970/23,150 per USD, up by 10 VND per USD for both buying and selling exchange rates as compared to those of the last working day of the previous week (April 29, 2021). By end of May 7, the exchanged rates were quoted at VND 22,980/23,160 per USD, up by 10 VND per USD as compared to the rates of May 4, 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 569,617 billion, an average of VND 113,923 billion per day, an increase of VND 14,072 billion per day as compared to the previous week (April 26-29, 2021); meanwhile the transaction amount in USD was equivalent to VND 165,997 billion, an average of VND 33,199 billion per day, an increase of VND 854 billion per day as compared to the previous week.
Most VND transactions were for overnight term and 1-week term, accounting for 78% and 8% of the total amount of VND transactions respectively. The transactions in USD were mostly for overnight term and 1-week term, accounting for 72% and 15% 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 in comparison with those of the previous week. Specifically, the average inter-bank interest rates for overnight, 1-week and 1-month terms were 1.13% p.a, 1.23% p.a and 1.26% p.a respectively.
- For transactions in USD: The average inter-bank interest rates fluctuated slightly for all terms. Specifically, the average inter-bank interest rates for overnight, 1-week and 1-month terms were 0.1% p.a, 0.13% p.a and 0.22% 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 |
1.13 |
1.23 |
1.28 |
1.26 |
1.65 |
2.24 |
2.92 |
USD |
0.10 |
0.13 |
0.15 |
0.22 |
0.50 |
0.98 |
0.96 |
Translated by Le Hang