Developments in Money Market and Inter-bank Market (March 28 – April 01, 2022)
1. Forex market and exchange rates:
During the week of March 28 – April 01, 2022, the forex market and the USD/VND exchange rates were relatively stable, and the market liquidity was ensured for smooth operations. On March 28, 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 22,735/23,015 per USD, up by 05 VND per USD as compared with the rates of the last working day of the previous week (March 25, 2022). By end of April 01, the exchange rates were quoted at VND 22,700/22,980 per USD, down by 35 VND per USD as compared with the rates of March 28, 2022.
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 1,133,958 billion, an average of VND 226,792 billion per day, an increase of VND 4,481 billion per day as compared to the previous week (March 21 - 25, 2022); meanwhile the transaction amount in USD was equivalent to VND 225,319 billion, an average of VND 45,064 billion per day, an increase of VND 2,894 billion per day as compared to the previous week.
Most VND transactions were for overnight term and 1-week term, accounting for 89% 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 79% and 12% 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 slight fluctuations in most of the terms as compared to those of the previous week. Specifically, the average inter-bank interest rates for overnight, 1-week and 1-month terms were 2.06% p.a., 2.3% p.a., and 2.51% p.a. respectively.
- For transactions in USD: The average inter-bank interest rates experienced slight fluctuations in different terms as compared to those of the previous week. Specifically, the average inter-bank interest rates for overnight, 1-week and 1-month terms were 0.35% p.a., 0.45% p.a., and 0.59% 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 |
2.06 |
2.30 |
2.56 |
2.51 |
3.35 |
3.64 |
3.87 |
USD |
0.35 |
0.45 |
0.50 |
0.59 |
1.41 |
2.36 |
2.26 |
Translated by LK.