Weekly Bulletin on Banking Operations (March 09-13, 2020)
1. Forex market and exchange rates:
The buying and selling exchange rates quoted on the commercial banks’ websites were at 23,110/23,250 against the USD during the first three days of the week, and then increased and were finally quoted at VND 23,170/23,310 against the USD on the last day of the week (unchanged for both buying and selling rates as compared to the last day of the previous week (March 6, 2020)).
2. Mobilization and lending interest rates:
2.1. Mobilization interest rates:
- The mobilization interest rates in VND: The common rates were between 0.2% p.a – 0.8% p.a for demand and below 1-month term deposits, 4.3% p.a – 5.0% p.a for 1-month to below 6-month terms, 5.3% p.a – 7.0% p.a for 6-month to below 12-month terms, and 6.6% – 7.5% p.a for 12-month plus terms.
- The mobilization interest rates in USD: The common mobilization interest rate in USD was 0% p.a for both individuals’ and institutions’ deposits.
2.2. Lending rates:
- The lending interest rates in VND: The common rates were between 6.0% p.a – 9.0% p.a for short-term loans; 9.0% p.a – 11.0% p.a for medium and long-term loans.
- The lending interest rates in USD: The common rates were between 3.0% p.a – 6.0% p.a. The rates were 3.0% p.a – 4.7% p.a for short-term loans, and 4.5% p.a – 6.0% p.a for medium and long-term loans.
3. Inter-bank transaction operations:
3.1. 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 281,787 billion, an average of VND 56,357 billion per day, a decrease of VND 5,645 billion per day as compared to the previous week (March 2-6, 2020); meanwhile the transaction amount in USD was equivalent to VND 162,132 billion, an average of VND 32,426 billion per day, an increase of VND 3,072 billion per day as compared to the previous week.
Most VND transactions were for overnight term and 1-week term, accounting for 65% and 16% of the total amount of VND transactions respectively. The transactions in USD were mostly for overnight term and 1-week term, accounting for 69% and 13% of the total amount of USD transactions respectively.
3.2. The average inter-bank interest rates:
- For transactions in VND: The average inter-bank interest rates increased slightly for most terms as compared to the previous week; the exceptions are the average inter-bank interest rates for 3-month and 6-month terms, which were on a slight downward trend.
- For transactions in USD: The average inter-bank interest rates for most terms decreased compared to the previous week.
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 |
|||||||
Week 9/3-13/3 |
2.37 |
2.54 |
2.57 |
2.79 |
3.22 |
4.27 |
5.64 |
Week 2/3-6/3 |
2.01 |
2.22 |
2.34 |
2.71 |
3.63 |
5.11 |
5.42 |
Up/Down |
0.36 |
0.32 |
0.23 |
0.08 |
-0.41 |
-0.84 |
0.22 |
USD |
|||||||
Week 9/3-13/3 |
1.18 |
1.22 |
1.22 |
1.26 |
1.70 |
1.85 |
- |
Week 2/3-6/3 |
1.41 |
1.48 |
1.47 |
1.63 |
2.00 |
2.07 |
- |
Up/Down |
-0.23 |
-0.26 |
-0.25 |
-0.37 |
-0.3 |
-0.22 |
- |
Translated by Le Hang