Weekly Bulletin on Banking Operations (February 01-05, 2021)
1. Forex market and exchange rates:
On February 01, 2021, the buying and selling exchange rates quoted on the website of the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) stood at VND 22,950/23,130 per USD, down by VND 10 each as compared to the exchange rates of the last working day of the previous week (January 29, 2021). On February 05, 2021, the buying and selling exchange rates deceased VND 40 each quoted at VND 22,910/23,090 per USD.
2. Mobilization and lending interest rates:
2.1. Mobilization interest rates:
- The mobilization interest rates in VND: The common rates stood at 0.1% p.a – 0.2% p.a for demand and below 1-month term deposits, 3.1% p.a – 3.8% p.a for 1-month to below 6-month terms, 4.0% p.a – 6.0% p.a for 6-month to below 12-month terms, and 5.6% p.a – 6.8% 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 cap for VND lending rate for short-term loans of 4.5% p.a continued to be applied to a number of sectors and fields.
- 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 – 4.5% p.a for short-term loans, and 4.2% 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 553,034 billion, an average of VND 110,607 billion per day, an increase of VND 2,321 billion per day as compared to the previous week (January 25-29, 2021); meanwhile the transaction amount in USD was equivalent to VND 148,584 billion, an average of VND 29,717 billion per day, a decrease of VND 1,924 billion per day as compared to the previous week.
Most VND transactions were for overnight term and 1-week term, accounting for 82% and 5% of the total amount of VND transactions respectively. The transactions in USD were mostly for overnight term and 1-week term, accounting for 73% and 6% 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 increased for most terms. Specifically, the average inter-bank interest rates for overnight, 1-week and 1-month terms were 1.79% p.a, 1.03% p.a and 1.89% 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 0.13% p.a, 0.14% p.a and 0.2% 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 |
1.79 |
1.03 |
2.21 |
1.89 |
1.74 |
3.34 |
3.91 |
USD |
0.13 |
0.14 |
0.19 |
0.20 |
0.52 |
1.15 |
1.03 |
Translated by VA