Developments in Money Market and Inter-bank Market (March 22-26, 2021)
1. Forex market and exchange rates:
By end of March 22, 2021, the buying and selling exchange rates quoted on the website of the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) were VND 22,990/23,170 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 (March 19, 2021). These exchange rates were maintained on the next days until March 26. By end of March 26, the exchanged rates were up by 5 VND to VND 22,995/23,175 per USD.
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 619,092 billion, an average of VND 123,818 billion per day, an increase of VND 19,573 billion per day as compared to the previous week (March 15-19, 2021); meanwhile the transaction amount in USD was equivalent to VND 143,416 billion, an average of VND 28,683 billion per day, a decrease of VND 765 billion per day as compared to the previous week.
Most VND transactions were for overnight term and 1-week term, accounting for 72% 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 69% 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 0.26% p.a, 0.46% p.a and 0.9% 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, 0.12% p.a and 0.24% 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 |
0.26 |
0.46 |
0.51 |
0.90 |
1.37 |
2.96 |
2.90 |
USD |
0.10 |
0.12 |
0.16 |
0.24 |
0.30 |
0.94 |
1.09 |
Translated by Le Hang