|
Developments in Money Market and Inter-bank Market (August 23-27, 2021)
1. Forex market and exchange rates:
During the week of August 23-27, 2021, the exchange rates and the forex market were relatively stable, the USD/VND exchange rates were on a downward trend, and the market liquidity was ensured for smooth operations. On August 23, 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 22,725/22,925 per USD, up by 10 VND per USD as compared to those of the last working day of the previous week (August 20, 2021). By end of August 27, the exchange rates were quoted at VND 22,690/22,890 per USD, down by 35 VND per USD as compared to the rates of August 23, 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 776,738 billion, an average of VND 155,348 billion per day, an increase of VND 7,130 billion per day as compared to the previous week (August 16-20, 2021); meanwhile the transaction amount in USD was equivalent to VND 144,814 billion, an average of VND 28,963 billion per day, a decrease of VND 11,884 billion per day as compared to the previous week.
Most VND transactions were for overnight term and 1-week term, accounting for 83% and 6% of the total amount of VND transactions respectively. The transactions in USD were mostly for overnight term and 1-week term, accounting for 65% and 10% of the total amount of USD transactions respectively.
2.2. Inter-bank interest rates:
- For transactions in VND: The average inter-bank interest rates generally 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 0.64% p.a, 0.73% p.a and 1.35% p.a respectively.
- For transactions in USD: The average inter-bank interest rates of the key terms were relatively stable, with slight fluctuations around those 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 0.2% 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 |
0.64 |
0.73 |
0.95 |
1.35 |
2.06 |
2.83 |
2.97 |
USD |
0.10 |
0.12 |
0.13 |
0.20 |
0.25 |
0.93 |
- |
Translated by Le Hang