1. Mobilizing and lending rates:
1.1. Mobilizing rates:
- The VND mobilizing rates were relatively stable. The rates were commonly 0.8 - 1% p.a for demand and below 1 month terms, 4.5 - 5.4% p.a for 1 to below 6 month terms, 5.4 - 6.5% p.a for 6 month to below 12 month terms; and 6.4 – 7.2% p.a for 12 month plus terms.
- The USD mobilizing rates were commonly 0.75% p.a for individuals and 0.25% p.a for economic institutions.
1.2. Lending rates:
- The VND lending rates continued to be stable. The average rates were commonly 6- 7% p.a for short-term loans for priority fields, and state-owned joint-stock commercial banks continued offering the rates of 9 - 10 % p.a for medium and long-term loans for priority fields; and the rates were commonly 7 - 9% p.a for short-term and 9.3 – 11% p.a for medium and long-term ordinary loans.
- The USD lending rates were commonly 3 – 6.7% p.a. The rates were 3 – 5.5% p.a for short term and 5.5 – 6.7% p.a for medium and long terms.
The specific lending rates were as follows:
Groups of commercial banks |
Currency |
Short term (% p.a) |
Medium and long terms (% p.a) |
Group of state-owned commercial banks |
- VND applicable to ordinary loans |
7.0-8.8 |
9.3-10.5 |
- VND applicable to loans for agricultural and rural development, exporters,supporting industries, SMEs and hi-tech enterprises |
6.0-7.0 |
9.0-10.0 |
|
|
USD |
3.0-4.5 |
5.5-6.5 |
Group of joint-stockcommercial banks |
- VND applicable to ordinary loans |
7.8-9.0 |
10.0-11.0 |
- VND applicable to loans for agricultural and rural development, exporters, supporting industries, SMEs and hi-tech enterprises |
7.0 |
10.0-10.5 |
|
|
USD |
4.5-5.5 |
6.0-6.7 |
2. Inter-bank transaction turnover:
2.1. Transactions:
According to the reports of credit institutions and foreign bank branches, the total amount of transactions in the inter-bank market reached about VND 92,242 billion (up by VND 15,607 billion) and USD amount equivalent to VND 44,460 billion (down by VND 3,034 billion), i.e VND 18.448 billion and VND 8,892 billion per day averagely.
Most VND transactions were overnight and 1 week terms (accounting for 40% and 34% of the total amount of VND transactions respectively). Transactions in USD were mostly overnight and 1 week terms which accounted for 40% and 23% of the total amount of USD transactions respectively.
2.2. The average inter-bank interest rates:
For VND transactions: The inter-bank interest rates for most terms increased. Specifically, the average interest rates of overnight, 1 week and 1 month terms increased to 3.77% p.a; 4.35% p.a and 4.55% p.a respectively.
For USD transactions: The average interest rate for below 1 month terms ranged from 0.27% p.a to 0.76% p.a
The specific average inter-bank interest rates were as follows:
Term |
Over night |
1 week |
2 weeks |
1 month |
3 months |
6 months |
9 months |
VND |
3.77 |
4.35 |
4.57 |
4.55 |
4.62 |
4.67 |
- |
USD |
0.27 |
0.56 |
0.76 |
0.76 |
0.87 |
1.57 |
- |
3. Exchange rate:
The VND/USD exchange rate quoted by Vietcombank was stable at 21,780/21,840 at the beginning of the week, after that it fluctuated in the week (around 5-15 VND/USD per day). And it was at 21,780/21,830 at the end of the week, down by 10 VND/USD as compared to the selling rate at the beginning of the week.