Developments in Money Market and Inter-bank Market (August 01 – 05, 2022)
1. Forex market and exchange rates:
During the week of August 01 – 05, 2022, the forex market and the USD/VND exchange rates were relatively stable, and the market liquidity was ensured for smooth operations. On August 01, 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 23,210/23,490 per USD, up by 10 VND per USD as compared with the rates of the last working day of the previous week (July 29, 2022). By end of August 05, the exchange rates were quoted at VND 23,250/23,530 per USD, up by 40 VND per USD as compared with the rates of August 01, 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 1,344,846 billion, an average of VND 268,969 billion per day, a decrease of VND 42,709 billion per day as compared to the previous week (July 25 - 29, 2022); meanwhile the transaction amount in USD was equivalent to VND 229,173 billion, an average of VND 45,835 billion per day, an increase of VND 12,174 billion per day as compared to the previous week.
Most VND transactions were for overnight term and 1-week term, accounting for 92% 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 84% and 8% 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 most of the 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 4.16% p.a., 4.26% p.a. and 4.74% p.a. respectively.
- For transactions in USD: The average inter-bank interest rates experienced an upward trend in most of the 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 2.41% p.a., 2.59% p.a., and 2.89% 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 |
4.16 |
4.26 |
4.57 |
4.74 |
4.93 |
5.78 |
6.00 |
USD |
2.41 |
2.59 |
2.69 |
2.89 |
3.22 |
4.40 |
- |
Translated by LK.