Developments in Money Market and Inter-bank Market (October 18 - 22, 2021)
1. Forex market and exchange rates:
During the week of October 18 - 22, 2021, the USD/VND exchange rates and the forex market were relatively stable, and the market liquidity was ensured for smooth operations. On October 18, 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 22,660/22,860 per USD, unchanged as compared with the rates of the last working day of the previous week (October 15, 2021). By end of October 22, the exchange rates were quoted at VND 22,655/22,855 per USD, down by 5 VND per USD as compared with the rates of October 18, 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 627,108 billion, an average of VND 125,422 billion per day, a decrease of VND 13,502 billion per day as compared to the previous week (October 11 - 15, 2021); meanwhile the transaction amount in USD was equivalent to VND 210,559 billion, an average of VND 42,112 billion per day, an increase of VND 13,137 billion per day as compared to the previous week.
Most VND transactions were for overnight term and 1-week term, accounting for 76% and 11% of the total amount of VND transactions respectively. The transactions in USD were mostly for overnight term and 1-week term, accounting for 46% 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 slight fluctuations as compared to those of the previous week. Specifically, the average inter-bank interest rates for overnight, 1-week and 1-month terms were 0.65% p.a., 0.7% p.a., and 1.31% p.a. respectively.
- For transactions in USD: The average inter-bank interest rates experienced slight fluctuations as compared to those of the previous week. 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 0.22% 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 |
0.65 |
0.70 |
0.90 |
1.31 |
1.81 |
2.52 |
3.32 |
USD |
0.10 |
0.12 |
0.15 |
0.22 |
0.36 |
0.62 |
1.02 |
Translated by LK.