Developments in Money Market and Inter-bank Market (September 20-24, 2021)
1. Forex market and exchange rates:
During the week of September 20-24, 2021, the exchange rates and the forex market were relatively stable and the market liquidity was ensured for smooth operations. On September 20, 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 22,675/22,875 per USD, up by 5 VND per USD as compared to those of the last working day of the previous week (September 17, 2021). By end of September 24, the exchanged rates were quoted at VND 22,660/22,860 per USD, down by 15 VND per USD as compared to the rates of September 20, 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 783,320 billion, an average of VND 156,664 billion per day, a decrease of VND 8,483 billion per day as compared to the previous week (September 13-17, 2021); meanwhile the transaction amount in USD was equivalent to VND 172,544 billion, an average of VND 34,509 billion per day, an increase of VND 3,150 billion per day as compared to the previous week.
Most VND transactions were for overnight term and 1-week term, accounting for 80% and 8% of the total amount of VND transactions respectively. The transactions in USD were mostly for overnight term and 1-week term, accounting for 66% 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 opposite developments. Specifically, the average inter-bank interest rates for overnight and 1-week terms increased by 0.03 percentage points and 0.05 percentage points respectively, to 0.67% p.a. and 0.81% p.a. respectively; meanwhile, the average inter-bank interest rate for 1-month term decreased by 0.03 percentage points, to 1.34% p.a.
- For transactions in USD: The average inter-bank interest rates of the key terms were relatively stable, with slight fluctuations around those of the previous week. Specifically, the average inter-bank interest rate for overnight term remained at 0.10% p.a. The average inter-bank interest rates for 1-week and 1-month term increased by 0.01 percentage point and 0.02 percentage points respectively, to 0.12% p.a. and 0.24% p.a.
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 |
0.67 |
0.81 |
1.01 |
1.34 |
2.01 |
2.95 |
3.41 |
USD |
0.10 |
0.12 |
0.15 |
0.24 |
0.37 |
0.70 |
0.00 |
Translated by Le Hang