Developments in Money Market and Inter-bank Market (March 8-12, 2021)
1. Forex market and exchange rates:
During March 8-12, 2021, the buying and selling exchange rates quoted on the website of the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) were stable at VND 22,960/23,140 per USD, up by 15 VND per USD for both buying and selling exchange rates as compared to those of the last working day of the previous week (March 5, 2021).
2. Inter-bank transaction operations:
2.1. 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 506,541 billion, an average of VND 101,308 billion per day, a decrease of VND 2,937 billion per day as compared to the previous week (March 1-5, 2021); meanwhile the transaction amount in USD was equivalent to VND 121,698 billion, an average of VND 24,340 billion per day, a decrease of VND 5,109 billion per day as compared to the previous week.
Most VND transactions were for overnight term and 1-week term, accounting for 76% and 13% of the total amount of VND transactions respectively. The transactions in USD were mostly for overnight term and 1-week term, accounting for 82% and 8% of the total amount of USD transactions respectively.
2.2. Inter-bank interest rates:
- For transactions in VND: The average inter-bank interest rates fluctuated slightly in comparison with those of the previous week. Specifically, the average inter-bank interest rates for overnight, 1-week and 1-month terms were 0.29% p.a, 0.45% p.a and 0.7% 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 0.11% p.a, 0.14% p.a and 0.22% 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 |
0.29 |
0.45 |
0.52 |
0.70 |
1.57 |
2.93 |
- |
USD |
0.11 |
0.14 |
0.17 |
0.22 |
0.47 |
1.17 |
1.22 |
Translated by Le Hang