Developments in Money Market and Inter-bank Market (December 13 - 17, 2021)
1. Forex market and exchange rates:
During the week of December 13 - 17, 2021, the USD/VND exchange rates and the forex market were relatively stable and the market liquidity was ensured for smooth operations. On December 13, 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 22,850/23,090 per USD, down by 10 VND per USD as compared with the rates of the last working day of the previous week (December 10, 2021). By end of December 17, the exchange rates were quoted at VND 22,820/23,100 per USD (-30/+10 VND per USD as compared with the rates of December 13, 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 759,624 billion, an average of VND 151,925 billion per day, an increase of VND 6,036 billion per day as compared to the previous week (December 06 - 10, 2021); meanwhile the transaction amount in USD was equivalent to VND 171,583 billion, an average of VND 34,317 billion per day, an increase of VND 772 billion per day as compared to the previous week.
Most VND transactions were for overnight term and 1-week term, accounting for 82% and 7% of the total amount of VND transactions respectively. The transactions in USD were mostly for overnight term and 1-week term, accounting for 79% and 6% of the total amount of USD transactions respectively.
2.2. Inter-bank interest rates:
- For transactions in VND: The average inter-bank interest rates experienced an upward trend as compared to those of the previous week. Specifically, the average inter-bank interest rates for overnight, 1-week and 1-month terms increased by 0.08 percentage points, 0.14 percentage points and 0.19 percentage points respectively, to 0.71% p.a., 0.93% p.a., and 1.44% p.a. respectively.
- For transactions in USD: The average inter-bank interest rates experienced little changes as compared to those of the previous week. Specifically, the average inter-bank interest rate for overnight term was unchanged as compared to that of the previous week, standing at 0.1% p.a. Meanwhile, the average inter-bank interest rate for 1-week term decreased slightly by 0.01 percentage point, to 0.15% p.a. The average inter-bank interest rate for 1-month term increased slightly by 0.01 percentage point, to 0.25% p.a
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 |
0.71 |
0.93 |
1.20 |
1.44 |
2.35 |
3.02 |
3.62 |
USD |
0.10 |
0.15 |
0.18 |
0.25 |
0.48 |
1.20 |
1.19 |
Translated by LK.