Developments in Money Market and Inter-bank Market (November 22 - 26, 2021)
1. Forex market and exchange rates:
During the week of November 22 - 26, 2021, the USD/VND exchange rates and the forex market were relatively stable, and the market liquidity was ensured for smooth operations. On November 22, 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 22,570/22,770 per USD, up by VND 15 per USD as compared with the rates of the last working day of the previous week (November 19, 2021). By end of November 26, the exchange rates were quoted at VND 22,575/22,775 per USD, up by 5 VND per USD as compared with the rates of November 22, 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 746,513 billion, an average of VND 149,303 billion per day, an increase of VND 16,242 billion per day as compared to the previous week (November 15 - 19, 2021); meanwhile the transaction amount in USD was equivalent to VND 156,993 billion, an average of VND 31,399 billion per day, an increase of VND 933 billion per day as compared to the previous week.
Most VND transactions were for overnight term and 1-week term, accounting for 78% and 10% of the total amount of VND transactions respectively. The transactions in USD were mostly for overnight term and 1-week term, accounting for 63% and 21% of the total amount of USD transactions respectively.
2.2. Inter-bank interest rates:
- For transactions in VND: The average inter-bank interest rates experienced slight fluctuations as compared to those of the previous week. Specifically, the average inter-bank interest rates for overnight, 1-week and 1-month terms were 0.63% p.a., 0.71% p.a., and 1.33% p.a. respectively.
- For transactions in USD: The average inter-bank interest rates experienced slight fluctuations. 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 0.19% 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 |
0.63 |
0.71 |
0.95 |
1.33 |
2.06 |
2.48 |
3.60 |
USD |
0.10 |
0.13 |
0.16 |
0.19 |
0.40 |
1.11 |
- |
Translated by Le Hang