1. Mobilizing and lending rates:
1.1. Mobilizing rates:
- The VND mobilizing rates: The rates were commonly 0.8 - 1% p.a for demand and below 1 month term, 4.5 - 5.4% p.a for 1 to below 6 month terms, 5.4 - 6.5% p.a for 6 month to below 12 month terms; and 6.4 – 7.2% p.a for 12 month plus terms.
- The USD mobilizing rates were stable as compared to the previous week, the rates were commonly 0.75% p.a for individuals and 0.25% p.a for economic institutions.
1.2. Lending rates:
- The VND lending rates: The average rates were commonly 7% p.a for short-term loans for priority fields, and state-owned joint-stock commercial banks continued offering the rates of 9 - 10 % p.a for medium and long-term loans for priority fields; and the rates were commonly 7 - 9% p.a for short-term and 9.5 – 11% p.a for medium and long-terms.
- The USD lending rates were commonly 3 - 7% p.a. The rates were 3 - 6% p.a for short term and 5.5 - 7% p.a for medium and long terms.
The specific lending rates were as follows:
Groups of commercial banks |
Currency |
Short term (% p.a) |
Medium and long terms (% p.a) |
Group of state-owned commercial banks |
- VND applicable to ordinary loans |
7.0 - 9.0 |
9.5 – 10.5 |
- VND applicable to loans for agricultural and rural development, exporters,supporting industries, SMEs and hi-tech enterprises |
7.0 |
9.0 – 10.0 |
|
|
USD |
3.0 - 4.5 |
5.5 - 6.5 |
Group of joint-stockcommercial banks |
- VND applicable to ordinary loans |
8.0 - 9.0 |
10.0 – 11.0 |
- VND applicable to loans for agricultural and rural development, exporters, supporting industries, SMEs and hi-tech enterprises |
7.0 |
10.0 - 11.0 |
|
|
USD |
4.5 - 6.0 |
6.0 - 7.0 |
2. Inter-bank transaction turnover:
2.1. Transactions:
According to the reports of credit institutions and foreign bank branches, the total amount of transactions in the inter-bank market reached about VND 114,095 billion and USD amount equivalent to VND 48,162 billion, i.e VND 22,819 billion and VND 9,632 billion per day averagely.
Most VND transactions were 1 week and overnight terms (accounting for 40% and 27% of the total amount of VND transactions respectively). Transactions in USD were mostly overnight and 1 week terms which accounted for 43% and 23% of the total amount of USD transactions respectively.
2.2. The average inter-bank interest rates:
For VND transactions: The inter-bank interest rates for most terms decreased. Specifically, average interest rate of overnight term was 2.97%, down by 1.13 percentage points p.a. The average interest rates of below 1 month terms ranged from 3.66% to 4.37%.
For USD transactions: The average interest rate for 1 month term was down by 0.01 percentage point p.a while the average interest rates for other terms increase. The average interest rate for overnight and 1 week terms increased by 0.01 and 0.04 percentage point p.a.
The specific average inter-bank interest rates were as follows:
Term |
Over night |
1 week |
2 weeks |
1 month |
3 months |
6 months |
9 months |
VND |
2.97 |
3.66 |
4.07 |
4.37 |
4.51 |
4.67 |
- |
USD |
0.26 |
0.44 |
0.52 |
0.48 |
1.21 |
1.71 |
- |
3. Exchange rate:
The VND/USD exchange rate quoted by Vietcombank was 21,515/21,575 at the beginning of the week, and 21,550/21,610 at the end of the week, up by 35 VND/USD in comparison with the exchange rate of 21,515/21,575 VND/USD at the beginning of the week.
Translated by TLH