Developments in Money Market and Inter-bank Market (November 01 - 05, 2021)
1. Forex market and exchange rates:
During the week of November 01 - 05, 2021, the USD/VND exchange rates and the forex market were relatively stable, and the market liquidity was ensured for smooth operations. On November 1, 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 22,650/22,850 per USD, unchanged as compared with the rates of the last working day of the previous week (October 29, 2021). By end of November 5, the exchange rates were quoted at VND 22,570/22,770 per USD, down by 80 VND per USD as compared with the rates of November 1, 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 726,937 billion, an average of VND 145,387 billion per day, an increase of VND 12,428 billion per day as compared to the previous week (October 25 - 29, 2021); meanwhile the transaction amount in USD was equivalent to VND 189,283 billion, an average of VND 37,857 billion per day, a decrease of VND 5,976 billion per day as compared to the previous week.
Most VND transactions were for overnight term and 1-week term, accounting for 82% and 10% of the total amount of VND transactions respectively. The transactions in USD were mostly for overnight term and 1-week term, accounting for 73% 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 experienced slight fluctuations as compared to those of the previous week. Specifically, the average inter-bank interest rates for overnight, 1-week and 1-month terms were 0.62% p.a., 0.69% p.a., and 1.13% p.a. respectively.
- For transactions in USD: The average inter-bank interest rates experienced slight fluctuations as compared to those of the previous week. Specifically, the average inter-bank interest rates for overnight, 1-week and 1-month terms were 0.1% p.a., 0.12% p.a. and 0.24% 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 |
0.62 |
0.69 |
0.96 |
1.13 |
2.18 |
2.83 |
3.52 |
USD |
0.10 |
0.12 |
0.15 |
0.24 |
0.55 |
1.06 |
- |
Translated by LK.