1. Mobilizing and lending rates:
1.1. Mobilizing rates:
- The VND mobilizing rates: The rates were stable and ranging from 0.8 - 1% p.a for demand and below 1 month term, 4.5 - 5.4% p.a for 1 to below 6 month terms, 5.4 - 6.5% p.a for 6 month to below 12 month terms; and 6.4 – 7.2% p.a for 12 month plus terms.
- The USD mobilizing rates were stable as compared to the previous week, the rates were commonly 0.75% p.a for individuals and 0.25% p.a for economic institutions.
1.2. Lending rates:
- The VND lending rates: The average rates were commonly 6 - 7% p.a for short-term loans for priority fields, and state-owned joint-stock commercial banks continued offering the rates of 9 - 10 % p.a for medium and long-term loans for priority fields; and the rates were commonly 7 - 9% p.a for short-term and 9.3 – 11% p.a for medium and long-terms for ordinary loans.
- The USD lending rates were commonly 3 – 6.7% p.a. The rates were 3 – 5.5% p.a for short term and 5.5 – 6.7% p.a for medium and long terms.
The specific lending rates were as follows:
Groups of commercial banks |
Currency |
Short term (% p.a) |
Medium and long terms (% p.a) |
Group of state-owned commercial banks |
- VND applicable to ordinary loans |
7.0 - 8.8 |
9.3 – 10.5 |
- VND applicable to loans for agricultural and rural development, exporters,supporting industries, SMEs and hi-tech enterprises |
6.0 - 7.0 |
9.0 – 10.0 |
|
|
USD |
3.0 - 4.5 |
5.5 - 6.5 |
Group of joint-stockcommercial banks |
- VND applicable to ordinary loans |
7.8 - 9.0 |
10.0 – 11.0 |
- VND applicable to loans for agricultural and rural development, exporters, supporting industries, SMEs and hi-tech enterprises |
7.0 |
10.0 - 10.5 |
|
|
USD |
4.5 – 5.5 |
6.0 – 6.7 |
2. Inter-bank transaction turnover:
2.1. Transactions:
According to the reports of credit institutions and foreign bank branches, the total amount of transactions in the inter-bank market reached about VND 101,739 billion i.e VND 20,348 billion per day averagely, reduced by 12,356 billion as compared to the last, and USD amount equivalent to VND 49,284 billion i.e and VND 9,857 billion per day averagely, increased by 1,123 billion as compare to the last week.
Most VND transactions were 1 week and and overnight terms which accounted for 40% and 37% of the total amount of VND transactions respectively. Transactions in USD were mostly overnight and 1 week terms which accounted for 53% and 13% of the total amount of USD transactions respectively.
2.2. The average inter-bank interest rates:
For VND transactions: The inter-bank interest rates increased for overnight and 1 week terms and decreased for remaining key terms. Specifically, average interest rate of overnight and 1 month terms were 3.12% p.a and 4.41%p.a, up by 0.15 and 0.04 percentage points p.a respectively as compared to the previous week. The average interest rates of 1 month and below terms ranged from 3.60% to 4.10%.
For USD transactions: The average interest rate for overnight, 1 week and 2 week terms were up by 0.01, 0.03 and 0.07 percentage point p.a respectively while the average interest rates for 1 month term decreased by 0.01 percentage point p.a.
The specific average inter-bank interest rates were as follows:
Term |
Over night |
1 week |
2 weeks |
1 month |
3 months |
6 months |
9 months |
VND |
3.12 |
3.60 |
4.01 |
4.41 |
4.47 |
4.83 |
- |
USD |
0.27 |
0.47 |
0.59 |
0.47 |
1.00 |
1.82 |
- |
3. Exchange rate:
The VND/USD exchange rate quoted by Vietcombank increased to 21,570/21,630 (on April 7 and 8) and remained stable from that day to the end of the week, up by 20 VND/USD in comparison with the exchange rate of the beginning of the week.
Translated by VMH