1. Mobilizing and lending rates:
1.1. Mobilizing rates:
- The VND mobilizing rates were relatively stable with a few banks reduced the rates slightly. The rates were commonly 0.8 - 1% p.a for demand and below 1 month terms, 4.5 - 5.4% p.a for 1 to below 6 month terms, 5.4 - 6.5% p.a for 6 month to below 12 month terms; and 6.4 – 7.2% p.a for 12 month plus terms.
- The USD mobilizing rates were commonly 0.75% p.a for individuals and 0.25% p.a for economic institutions.
1.2. Lending rates:
- The VND lending rates continued to be stable. The average rates were commonly 6- 7% p.a for short-term loans for priority fields, and state-owned joint-stock commercial banks continued offering the rates of 9 - 10 % p.a for medium and long-term loans for priority fields; and the rates were commonly 7 - 9% p.a for short-term and 9.3 – 11% p.a for medium and long-term ordinary loans.
- The USD lending rates were commonly 3 – 6.7% p.a. The rates were 3 – 5.5% p.a for short term and 5.5 – 6.7% p.a for medium and long terms.
The specific lending rates were as follows:
Groups of commercial banks |
Currency |
Short term (% p.a) |
Medium and long terms (% p.a) |
Group of state-owned commercial banks |
- VND applicable to ordinary loans |
7.0-8.8 |
9.3-10.5 |
- VND applicable to loans for agricultural and rural development, exporters,supporting industries, SMEs and hi-tech enterprises |
6.0-7.0 |
9.0-10.0 |
|
|
USD |
3.0-4.5 |
5.5-6.5 |
Group of joint-stockcommercial banks |
- VND applicable to ordinary loans |
7.8-9.0 |
10.0-11.0 |
- VND applicable to loans for agricultural and rural development, exporters, supporting industries, SMEs and hi-tech enterprises |
7.0 |
10.0-10.5 |
|
|
USD |
4.5-5.5 |
6.0-6.7 |
2. Inter-bank transaction turnover:
2.1. Transactions:
According to the reports of credit institutions and foreign bank branches, the total amount of transactions in the inter-bank market reached about VND 101,441 billion (up by VND 9,199 billion as compared to the previous week) and USD amount equivalent to VND 43,963 billion (down by VND 496 billion), i.e VND 20,288 billion and VND 8,793 billion per day averagely.
Most VND transactions were 1 week term and overnight (accounting for 38% and 33% of the total amount of VND transactions respectively). Transactions in USD were mostly overnight and 1 week terms which accounted for 54% and 18% of the total amount of USD transactions respectively.
2.2. The average inter-bank interest rates:
For VND transactions: The inter-bank interest rates for most terms decreased as compared to the rates of week June 8-12, 2015. Specifically, the average interest rates of overnight, 1 week and 1 month terms were 3.12% p.a; 3.75% p.a and 4.37% p.a respectively.
For USD transactions: The average interest rate for 1 month term increased and decreased for below 1 month terms.
The specific average inter-bank interest rates were as follows:
Term |
Over night |
1 week |
2 weeks |
1 month |
3 months |
6 months |
9 months |
VND |
3.12 |
3.75 |
4.05 |
4.37 |
4.53 |
4.98 |
- |
USD |
0.22 |
0.47 |
0.60 |
0.81 |
1.08 |
2.28 |
- |
3. Exchange rate:
The VND/USD exchange rate quoted by Vietcombank was stable at 21,775/21,835 and decreased to 21,770/21,830 on the last day of the week (June 19).
The State Bank of Vietnam
Translated by MH