Developments in Money Market and Inter-bank Market (July 7-11, 2025)
1. Forex market and exchange rates
On July 7, 2025, 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 25,970/26,330 per USD, a decrease of VND 20 per USD as compared with the rates of the last working day of the previous week (July 4, 2025). By the end of July 11, 2025, the exchange rates were quoted at VND 25,930/26,290 per USD, a decrease of VND 40 per USD as compared with the rates of July 7, 2025.
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 VND in the inter-bank market during the week reached approximately VND 2,581,794 billion, an average of VND 516,359 billion per day, a decrease of VND 78,978 billion per day as compared to the previous week. Meanwhile, the transaction amount in USD was equivalent to VND 422,450 billion, an average of VND 84,490 billion per day, an increase of VND 19,309 billion per day as compared to the previous week.
Regarding the maturities, most VND transactions were for overnight and 1-week terms, accounting for 93% and 3% of the total amount of transactions respectively. For USD transactions, overnight and 1-week terms accounted for 81% and 15% of the total amount of transactions respectively.
2.2. Inter-bank interest rates
For transactions in VND: As compared to the previous week, the average inter-bank interest rates for some key terms experienced opposite movements as compared to the previous week. Specifically, the average inter-bank interest rate for overnight term decreased by 0.16 percentage points, to 4.55% p.a. On the contrary, the average inter-bank interest rates for 1-week and 1-month terms increased by 0.08 percentage points and 0.11 percentage points respectively, to 4.57% p.a. and 4.56% p.a. respectively.
For transactions in USD: As compared to the previous week, the average inter-bank interest rates for most terms experienced minor changes as compared to the previous week. Specifically, the average inter-bank interest rates for overnight and 1-week terms both decreased by 0.01 percentage point, to 4.30% p.a. and 4.32% p.a. respectively. Meanwhile, the average inter-bank interest rate for 1-month term increased slightly by 0.03 percentage points, to 4.39% p.a.
The specific average inter-bank interest rates were as follows:
|
Overnight |
1-week |
2-week |
1-month |
3-month |
6-month |
9-month |
VND |
4.55 |
4.57 |
4.66 |
4.56 |
4.71 |
5.12 |
4.88 |
USD |
4.30 |
4.32 |
4.32 |
4.39 |
4.46 |
- |
- |
Translated by HY