Weekly Bulletin on Banking Operations (December 30 – January 03, 2019)
1. Forex market and exchange rates:
The buying and selling exchange rates quoted on the commercial banks’ websites were stable at VND 23,110/23,230 against the USD during the whole week (unchanged as compared to the last day of the previous week (December 23-27, 2019).
2. Mobilization and lending interest rates:
2.1. Mobilization interest rates:
- The mobilization interest rates in VND: The common rates were between 0.2% p.a – 0.8% p.a for demand and below 1-month term deposits, 4.3% p.a – 5.0% p.a for 1-month to below 6-month terms, 5.3% p.a – 7.0% p.a for 6-month to below 12-month terms, and 6.6% – 7.5% 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 common average rates were between 6.0% p.a – 9.0% p.a for short-term loans; 9.0% p.a – 11.0% p.a for medium and long-term loans.
- 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 – 4.7% p.a for short-term loans and 4.5%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 227,198 billion, an average of VND 45,440 billion per day, a decrease of VND 22,376 billion per day as compared to the week of December 23-27, 2019; meanwhile the transaction amount in USD was equivalent to VND 79,616 billion, an average of VND 15,923 billion per day, a decrease of VND 11,052 billion per day as compared to the previous week.
Most VND transactions were for overnight term and 1-week term, accounting for 66% and 19% of the total amount of VND transactions respectively. The transactions in USD were mostly for overnight term and 1-week term, accounting for 78% and 15% of the total amount of USD transactions respectively.
3.2. The average inter-bank interest rates:
- For transactions in VND: As compared to the previous week, the average inter-bank interest rates for overnight term and 1-week term slightly increased; while the average inter-bank interest rates for 1-month term and 6-month term decreased. Specifically, the average inter-bank interest rates for overnight term, 1-week term and 1-month term are 1.69% p.a, 2.54% p.a and 2.5% p.a respectively.
- For transactions in USD: The average inter-bank interest rates slightly fluctuated for most terms as compared to previous week. Specifically, the average inter-bank interest rates for overnight term, 1-week and 1-month terms rose to 1.62% p.a, 1.71% p.a and 1.83% p.a respectively.
The specific average inter-bank interest rates were as follows:
Term |
Overnight |
1-week |
2-week |
1-month |
3-month |
6-month |
9-month |
VND |
1.69 |
2.54 |
3.22 |
2.50 |
4.65 |
5.20 |
- |
USD |
1.62 |
1.71 |
1.81 |
1.83 |
2.21 |
3.51 |
- |
Translated by VA