Developments in Money Market and Inter-bank Market (August 9 - 13, 2021)
1. Forex market and exchange rates:
During the week of August 9 - 13, 2021, the exchange rates and the forex market were relatively stable, the USD/VND exchange rates experienced a slight downward trend, and the market liquidity was ensured for smooth operations. On August 9, 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 22,830/23,030 per USD, unchanged as compared to those of the last working day of the previous week (August 6, 2021). By end of August 13, the exchanged rates were quoted at VND 22,730/22,930 per USD, down by 100 VND per USD as compared to the rates of August 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 627,012 billion, an average of VND 125,402 billion per day, a decrease of VND 27,805 billion per day as compared to the previous week (August 2 - 6, 2021); meanwhile the transaction amount in USD was equivalent to VND 126,271 billion, an average of VND 25,254 billion per day, a decrease of VND 1,392 billion per day as compared to the previous week.
Most VND transactions were for overnight term and 1-week term, accounting for 84% and 8% of the total amount of VND transactions respectively. The transactions in USD were mostly for overnight term and 1-week term, accounting for 72% and 18% of the total amount of USD transactions respectively.
2.2. Inter-bank interest rates:
- For transactions in VND: The average inter-bank interest rates generally experienced a downward trend as compared to those of the previous week. Specifically, the average inter-bank interest rates for overnight, 1-week and 1-month terms decreased by 0.11 percentage points, 0.24 percentage points and 0.21 percentage points respectively, to 0.83% p.a, 0.98% p.a and 1.30% p.a respectively.
- For transactions in USD: The average inter-bank interest rates of the key terms were relatively stable, with slight decreases as compared to those of the previous week. Specifically, the average inter-bank interest rate for overnight term remained at 0.10% p.a. Meanwhile, the average inter-bank interest rates for 1-week and 1-month terms decreased by 0.01 percentage point and 0.03 percentage points respectively, to 0.11% p.a and 0.20% 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 |
0.83 |
0.98 |
1.24 |
1.30 |
1.77 |
2.65 |
- |
USD |
0.10 |
0.11 |
0.13 |
0.20 |
0.46 |
1.34 |
1.80 |
Translated by LK.