Weekly Bulletin on Banking Operations (April 06 - 10, 2020)
1. Forex market and exchange rates:
The buying and selling exchange rates quoted on the commercial banks’ websites (at the end of the day) were fluctuating from VND 23,340/23,520 per USD to VND 23,430/23,610 per USD. During the first two days of the week, the buying and selling exchange rates slightly decreased from VND 23,390/23,570 per USD to VND 23,370/23,550 per USD; then made a slight increase by VND 60/60 per USD per day during the middle of the week, and then turned downward by VND 30-60 per USD on the next two days to VND 23,340/23,520 against the USD on Friday (April 10), down by VND 10/10 per USD as compared to the last day of the previous week (April 3, 2020).
2. Mobilization and lending interest rates:
2.1. Mobilization interest rates:
- The mobilization interest rates in VND: The common rates were between 0.1% p.a – 0.5% p.a for demand and below 1-month term deposits, 4.3% p.a – 4.75% p.a for 1-month to below 6-month terms, 5.3% p.a – 6.8% p.a for 6-month to below 12-month terms, and 6.6% – 7.4% p.a for 12-month plus terms.
- The mobilization interest rates in USD: The common mobilization interest rate in USD was 0% p.a for both individuals’ and institutions’ deposits.
2.2. Lending rates:
- The lending interest rates in VND: The common average rates were between 6.0% p.a – 9.0% p.a for short-term loans; 9.0% p.a – 11.0% p.a for medium and long-term loans.
- The lending interest rates in USD: The common rates were between 3.0% p.a – 6.0% p.a. The rates were 3.0% p.a – 4.7% p.a for short-term loans, and 4.5% p.a – 6.0% p.a for medium and long-term loans.
3. Inter-bank transaction operations:
3.1. 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 255,336 billion, an average of VND 51,067 billion per day, a decrease of VND 3,389 billion per day as compared to the previous week (March 30 – April 03, 2020); meanwhile the transaction amount in USD was equivalent to VND 125,938 billion, an average of VND 25.188 billion per day, an increase of VND 1,676 billion per day as compared to the previous week.
Most VND transactions were for overnight term and 1-week term, accounting for 71% and 16% of the total amount of VND transactions respectively. The transactions in USD were mostly for overnight term and 1-week term, accounting for 78% and 10% of the total amount of USD transactions respectively.
3.2. Average inter-bank interest rates:
- For transactions in VND: The average inter-bank interest rates were slightly fluctuated for most terms as compared to the previous week. Specifically, the average inter-bank interest rates for overnight, 1-week and 1-month terms were 2.78% p.a, 2.89% p.a and 3.64% p.a respectively.
- For transactions in USD: The average inter-bank interest rates were on a downward trend for most terms as compared to the previous week. Specifically, the average inter-bank interest rates for overnight, 1-week and 1-month terms were 0.49 % p.a, 0.7% p.a and 1.42% 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 |
2.78 |
2.89 |
2.98 |
3.64 |
3.78 |
4.05 |
5.25 |
USD |
0.49 |
0.70 |
0.89 |
1.42 |
1.77 |
3.25 |
2.32 |
Translated by VA