Developments in Money Market and Inter-bank Market (November 08 - 12, 2021)
1. Forex market and exchange rates:
During the week of November 08 - 12, 2021, the USD/VND exchange rates and the forex market were relatively stable, and the market liquidity was ensured for smooth operations. On November 8, 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 22,560/22,760 per USD, down by 10 VND per USD as compared with the rates of the last working day of the previous week (November 5, 2021). By end of November 12, the exchange rates were quoted at VND 22,545/22,745 per USD, down by 15 VND per USD as compared with the rates of November 8, 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 699,555 billion, an average of VND 139,911 billion per day, a decrease of VND 5,476 billion per day as compared to the previous week (November 01 - 05, 2021); meanwhile the transaction amount in USD was equivalent to VND 151,266 billion, an average of VND 30,253 billion per day, a decrease of VND 7,603 billion per day as compared to the previous week.
Most VND transactions were for overnight term and 1-week term, accounting for 80% 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 61% and 24% 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 0.63% p.a., 0.71% p.a., and 1.24% 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 0.26% 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 |
0.63 |
0.71 |
0.96 |
1.24 |
1.95 |
2.45 |
3.73 |
USD |
0.10 |
0.12 |
0.16 |
0.26 |
0.39 |
1.28 |
- |
Translated by LK.