Developments in Money Market and Inter-bank Market (April 21-26, 2025)
1. Forex market and exchange rates
On April 21, 2025, 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 25,700/26,060 per USD, a decrease of VND 60 USD as compared with the rates of the last working day of the previous week (April 18, 2025). By the end of April 26, 2025, the exchange rates were quoted at VND 25,840/26,200 per USD, an increase of 140 VND per USD as compared with the rates of April 21, 2025.
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 VND in the inter-bank market during the week reached approximately VND 2,983,492 billion, an average of VND 497,249 billion per day, an increase of VND 4,369 billion per day as compared to the previous week. Meanwhile, the transaction amount in USD was equivalent to VND 586,130 billion, an average of VND 97,688 billion per day, a decrease of VND 11,234 billion per day as compared to the previous week.
Regarding the maturities, most VND transactions were for overnight and 2-week terms, accounting for 89% and 7% of the total amount of transactions respectively. For USD transactions, overnight and 2-week terms accounted for 84% and 9% of the total amount of transactions respectively.
2.2. Inter-bank interest rates
For transactions in VND: As compared to the previous week, the average inter-bank interest rates for some key terms experienced a downward trend as compared to the previous week, except for 1-month term. Specifically, the average inter-bank interest rates for overnight and 1-week terms decreased by 0.5 percentage points and 0.14 percentage points respectively, to 3.56% p.a. and 4.11% p.a. respectively. The average inter-bank interest rate for 1-month term remained unchanged as compared to the previous week, at 4.33% p.a.
For transactions in USD: As compared to the previous week, the average inter-bank interest rates for below 1-month terms experienced minor changes as compared to the previous week. Specifically, the average inter-bank interest rates for overnight and 1-week terms remained unchanged at 4.29% p.a. and 4.32% p.a. respectively. Meanwhile, the average inter-bank interest rate for 1-month term increased slightly by 0.01 percentage point, to 4.40% p.a.
The specific average inter-bank interest rates were as follows:
|
Overnight |
1-week |
2-week |
1-month |
3-month |
6-month |
9-month |
VND |
3.56 |
4.11 |
4.42 |
4.33 |
4.75 |
5.08 |
- |
USD |
4.29 |
4.32 |
4.34 |
4.40 |
4.48 |
- |
- |
Translated by HY