Weekly Bulletin on Banking Operations (January 25-29, 2021)
1. Forex market and exchange rates:
On January 25, 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 22,985/23,165 per USD, unchanged as compared to the exchange rates of the last working day of the previous week (January 22, 2021). On January 26, 2021, the buying and selling exchange rates deceased VND 5 to VND 22,980/23,160 per USD. Between January 28-29, 2021, the buying and selling exchange rates continued to go down and were quoted at VND 22,960/23,140 per USD, down by VND 25 each as compared to the exchange rates of the last working day of the previous week (January 22, 2021).
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 526,706 billion, an average of VND 105,341 billion per day, an increase of VND 26,181 billion per day as compared to the previous week (January 18-22, 2021); meanwhile the transaction amount in USD was equivalent to VND 156,474 billion, an average of VND 31,295 billion per day, an increase of VND 3,158 billion per day as compared to the previous week.
Most VND transactions were for overnight term and 1-week term, accounting for 75% and 12% of the total amount of VND transactions respectively. The transactions in USD were mostly for overnight term and 1-week term, accounting for 65% and 20% 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 slightly increased for most terms. Specifically, the average inter-bank interest rates for overnight, 1-week and 1-month terms were 0.17% p.a, 0.31% p.a and 0.85% 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 0.12% p.a, 0.15% p.a and 0.24% 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 |
0.17 |
0.31 |
0.36 |
0.85 |
1.32 |
3.34 |
3.02 |
USD |
0.12 |
0.15 |
0.23 |
0.24 |
0.45 |
1.05 |
0.99 |
Translated by VA