Developments in Money Market and Inter-bank Market (April 18-22, 2022)
1. Forex market and exchange rates:
During the week of April 18-22, 2022, the forex market and the USD/VND exchange rates were relatively stable, and the market liquidity was ensured for smooth operations. On April 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 22,780/23,060 per USD, up by 20 VND per USD as compared with the rates of the last working day of the previous week (April 15, 2022). By end of April 22, the exchange rates were quoted at VND 22,830/23,110 per USD, up by 50 VND per USD as compared with the rates of April 18, 2022.
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 966,712 billion, an average of VND 193,342 billion per day, an increase of VND 9,827 billion per day as compared to the previous week; meanwhile the transaction amount in USD was equivalent to VND 231,838 billion, an average of VND 46,368 billion per day, an increase of VND 8,563 billion per day as compared to the previous week.
Most VND transactions were for overnight term and 1-week term, accounting for 87% and 4% of the total amount of VND transactions respectively. The transactions in USD were mostly for overnight term and 1-week term, accounting for 79% and 10% of the total amount of USD transactions respectively.
2.2. Inter-bank interest rates:
- For transactions in VND: The average inter-bank interest rates slightly decreased for most of the terms as compared to those of the previous week. Specifically, the average inter-bank interest rates for overnight, 1-week and 1-month terms were 1.78% p.a., 2.05% p.a., and 2.46% p.a. respectively.
- For transactions in USD: The average inter-bank interest rates experienced slight fluctuations in different terms as compared to those of the previous week. Specifically, the average inter-bank interest rates for overnight, 1-week and 1-month terms were 0.42% p.a., 0.51% p.a., and 0.76% 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 |
1.78 |
2.05 |
2.26 |
2.46 |
2.83 |
3.77 |
4.11 |
USD |
0.42 |
0.51 |
0.63 |
0.76 |
0.90 |
2.23 |
2.36 |
Translated by Le Hang