Developments in Money Market and Inter-bank Market (April 19-23, 2021)
1. Forex market and exchange rates:
By end of April 19, 2021, the buying and selling exchange rates quoted on the website of the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) were at VND 22,985/23,165 per USD, up by 5 VND per USD for both buying and selling exchange rates as compared to those of the last working day of the previous week (April 16, 2021). During the week, the exchange rates fluctuated slightly up and down by 10 VND per USD. By end of April 23, the exchanged rates were quoted at VND 22,975/23,155 per USD, down by 10 VND per USD as compared to the rates of April 19, 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 527,041 billion, an average of VND 105,408 billion per day, a decrease of VND 8,304 billion per day as compared to the previous week (April 12-16, 2021); meanwhile the transaction amount in USD was equivalent to VND 145,496 billion, an average of VND 29,099 billion per day, a decrease of VND 2,991 billion per day as compared to the previous week.
Most VND transactions were for overnight term and 1-week term, accounting for 77% and 9% of the total amount of VND transactions respectively. The transactions in USD were mostly for overnight term and 1-week term, accounting for 80% and 9% of the total amount of USD transactions respectively.
2.2. Inter-bank interest rates:
- For transactions in VND: The average inter-bank interest rates increased in comparison with those of the previous week. Specifically, the average inter-bank interest rates for overnight, 1-week and 1-month terms were 0.43% p.a, 0.68% p.a and 0.94% 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 0.1% p.a, 0.11% p.a and 0.23% 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 |
0.43 |
0.68 |
0.88 |
0.94 |
1.36 |
2.41 |
2.98 |
USD |
0.10 |
0.11 |
0.15 |
0.23 |
0.43 |
1.09 |
1.18 |
Translated by Le Hang