Developments in Money Market and Inter-bank Market (March 15-19, 2021)
1. Forex market and exchange rates:
By end of March 15, 2021, the buying and selling exchange rates quoted on the website of the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) were VND 22,990/23,170 per USD, up by 30 VND per USD for both buying and selling exchange rates as compared to those of the last working day of the previous week (March 12, 2021). On the next days during the week, the exchange rates were on a slight downward trend, and were finally quoted at VND 22,980/23,160 per USD on March 19.
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 521,227 billion, an average of VND 104,245 billion per day, a decrease of VND 43,578 billion per day as compared to the previous week (March 8-12, 2021); meanwhile the transaction amount in USD was equivalent to VND 147,241 billion, an average of VND 29,448 billion per day, a decrease of VND 1,235 billion per day as compared to the previous week.
Most VND transactions were for overnight term and 1-week term, accounting for 75% and 11% of the total amount of VND transactions respectively. The transactions in USD were mostly for overnight term and 1-week term, accounting for 77% 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 0.33% p.a, 0.51% p.a and 0.76% 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, 0.12% p.a and 0.11% 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 |
0.33 |
0.51 |
0.58 |
0.76 |
1.73 |
3.12 |
3.63 |
USD |
0.10 |
0.12 |
0.12 |
0.11 |
0.57 |
0.96 |
1.01 |
Translated by Le Hang