Weekly information on banking operations (November 09 -13, 2015)
1. Mobilizing and lending rates:
1.1. Mobilizing rates:
- The VND mobilizing rates continued to be stable. Several commercial banks slightly increased the mobilizing rates. The rates were commonly 0.8 - 1% p.a for demand and below 1 month terms, 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 commonly 0.25% p.a for individuals and 0% p.a for economic institutions.
1.2. Lending rates:
- The VND lending rates continued to be stable. The average rates were commonly 6- 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 6.8% - 9% p.a for short-term and 9.3 – 11% p.a for medium and long-term ordinary loans.
- The USD lending rates were stable. The USD lending rates were commonly 3 – 6.7% p.a. The rates were 3 – 5.5% p.a for short term and 5.5 – 6.7% 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 |
6.8-8.8 |
9.3-10.5 |
- VND applicable to loans for agricultural and rural development, exporters,supporting industries, SMEs and hi-tech enterprises |
6.0-7.0 |
9.0-10.0 |
|
|
USD |
3.0-4.5 |
5.5-6.5 |
Group of joint-stockcommercial banks |
- VND applicable to ordinary loans |
7.8-9.0 |
10.0-11.0 |
- VND applicable to loans for agricultural and rural development, exporters, supporting industries, SMEs and hi-tech enterprises |
7.0 |
10.0-10.5 |
|
|
USD |
4.5-5.5 |
6.0-6.7 |
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 118,280 billion (up by VND 26,155 billion as compared to the week of November 02 - 06, 2015) and USD amount equivalent to VND 45,921 billion (down by VND 2,539 billion as compared to the previous week), i.e VND 23,656 billion and VND 9,184 billion per day averagely.
Most VND transactions were overnight and 1 week terms (accounting for 30% and 38% of the total amount of VND transactions respectively). Transactions in USD were mostly overnight and 1 week terms which accounted for 55% and 22% 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 key terms of below 1 month continued to increase as compared to the rates of the previous week. Specifically, the average interest rates of overnight and 1 week terms increased to 2.06%p.a and 2.34% p.a respectively while the average interest rate of 1 month term remained at 3.45% p.a.
For USD transactions: The average interest rates of 01 week term was stable at 0.20% p.a. The rates of overnight and 2 week terms increased by 0.01 percentage point p.a and 0.02 percentage point p.a respectively while the average rates of 01 month term decreased by 0.25 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 |
2.06 |
2.34 |
2.65 |
3.45 |
4.53 |
4.53 |
- |
USD |
0.17 |
0.20 |
0.27 |
0.35 |
0.62 |
1.95 |
- |
3. Forex market:
The buying and selling VND/USD exchange rate quoted at the end of working day by Vietcombank decreased from VND/USD 22,380/22,460 on the first day of the week to VND/USD 22,350/22,430 on the midweek days. The exchange rate increased to VND/USD 22,390/22,470 on the last working day of the week (up by VND/USD 60 as compared to that of the last day of the previous week).
In the coming time, the SBV will continue to conduct consistent measures and monetary policies, and sell foreign currencies to ensure the balance of foreign currency supply and demand for stabilizing forex market and foreign exchange rates.
The State Bank of Vietnam
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