Developments in Money Market and Inter-bank Market (April 26-29, 2021)
1. Forex market and exchange rates:
From April 26 to April 29, exchange rates movements and the foreign exchange market were generally stable, with smooth market liquidity. By end of April 26, 2021, 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 22,970/23,150 per USD, down by 5 VND per USD for both buying and selling exchange rates as compared to those of the last working day of the previous week (April 23, 2021); from April 27 to April 29, the exchange rates were quoted at VND 22,960/23,140 per USD, down by 10 VND per USD as compared to the rates by the end of April 26, 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 499,257 billion, an average of VND 99,851 billion per day, a decrease of VND 5,557 billion per day as compared to the previous week (April 19-23, 2021); meanwhile the transaction amount in USD was equivalent to VND 161,726 billion, an average of VND 32,345 billion per day, an increase of VND 3,246 billion per day as compared to the previous week.
Most VND transactions were for overnight term and 1-week term, accounting for 61% and 27% of the total amount of VND transactions respectively. The transactions in USD were mostly for overnight term and 1-week term, accounting for 55% and 34% of the total amount of USD transactions respectively.
2.2. Inter-bank interest rates:
- For transactions in VND: The average inter-bank interest rates increased in comparison with those of the previous week. Specifically, the average inter-bank interest rates for overnight, 1-week and 1-month terms were 0.98% p.a, 1.18% p.a and 1.33% p.a respectively.
- For transactions in USD: The average inter-bank interest rates fluctuated slightly for all terms. 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 0.23% 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 |
0.98 |
1.18 |
1.20 |
1.33 |
1.68 |
2.58 |
2.98 |
USD |
0.1 |
0.12 |
0.13 |
0.23 |
0.56 |
1.02 |
1.18 |
Translated by VA