Developments in Money Market and Inter-bank Market (April 12-16, 2021)
1. Forex market and exchange rates:
During April 12-16, 2021, the buying and selling exchange rates quoted on the website of the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) were stable at VND 22,980/23,160 per USD, unchanged as compared to the rates of the last working day of the previous week (April 9, 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 568,560 billion, an average of VND 113,712 billion per day, a decrease of VND 11,769 billion per day as compared to the previous week (April 5-9, 2021); meanwhile the transaction amount in USD was equivalent to VND 160,448 billion, an average of VND 32,090 billion per day, a decrease of VND 904 billion per day as compared to the previous week.
Most VND transactions were for overnight term and 1-week term, accounting for 79% 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 81% and 10% 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 0.41% p.a, 0.66% p.a and 0.74% 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 0.3% 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 |
0.41 |
0.66 |
0.79 |
0.74 |
1.20 |
2.50 |
3.55 |
USD |
0.10 |
0.12 |
0.16 |
0.30 |
0.47 |
0.92 |
0.96 |
Translated by Le Hang