Developments in Money Market and Inter-bank Market (June 13 - 17, 2022)
1. Forex market and exchange rates:
During the week of June 13 - 17, 2022, the forex market and the USD/VND exchange rates were relatively stable, and the market liquidity was ensured for smooth operations. On June 13, 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 23,060/23,340 per USD, up by 30 VND per USD as compared with the rates of the last working day of the previous week (June 10, 2022). By end of June 17, the exchange rates were quoted at VND 23,100/23,380 per USD, up by 40 VND per USD as compared with the rates of June 13, 2022.
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 1,154,906 billion, an average of VND 230,981 billion per day, an increase of VND 25,044 billion per day as compared to the previous week (June 006 - 10, 2022); meanwhile the transaction amount in USD was equivalent to VND 312,857 billion, an average of VND 62,571 billion per day, an increase of VND 490 billion per day as compared to the previous week.
Most VND transactions were for overnight term and 1-week term, accounting for 87% and 5% of the total amount of VND transactions respectively. The transactions in USD were mostly for overnight term and 1-week term, accounting for 78% and 15% 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 an upward trend in almost all terms as compared to those of the previous week. Specifically, the average inter-bank interest rates for overnight, 1-week and 1-month terms were 0.37% p.a., 0.92% p.a., and 2.56% p.a. respectively.
- For transactions in USD: The average inter-bank interest rates experienced an upward trend in almost all terms as compared to those of the previous week. Specifically, the average inter-bank interest rates for overnight, 1-week and 1-month terms were 1.06% p.a., 1.53% p.a., and 1.74% 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 |
0.37 |
0.92 |
1.49 |
2.56 |
2.99 |
4.06 |
3.41 |
USD |
1.06 |
1.53 |
1.65 |
1.74 |
2.09 |
3.66 |
- |
Translated by LK.