Developments in Money Market and Inter-bank Market (July 14-18, 2025)
1. Forex market and exchange rates
On July 14, 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 25,930/26,290 per USD, unchanged as compared with the rates of the last working day of the previous week (July 11, 2025). By the end of July 18, 2025, the exchange rates were quoted at VND 25,980/26,340 per USD, an increase of VND 50 per USD as compared with the rates of July 7, 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 2,601,989 billion, an average of VND 520,398 billion per day, an increase of VND 4,039 billion per day as compared to the previous week. Meanwhile, the transaction amount in USD was equivalent to VND 501,355 billion, an average of VND 100,271 billion per day, an increase of VND 15,781 billion per day as compared to the previous week.
Regarding the maturities, most VND transactions were for overnight and 1-week terms, accounting for 93% and 3% of the total amount of transactions respectively. For USD transactions, overnight and 1-week terms accounted for 84% and 11% 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 most of the key terms experienced an upward trend as compared to the previous week. Specifically, the average inter-bank interest rates for overnight, 1-week and 1-month terms increased by 0.4 percentage points, 0.33 percentage points, and 0.06 percentage points respectively, to 4.95% p.a., 4.90% p.a., and 4.62% p.a. respectively.
For transactions in USD: As compared to the previous week, the average inter-bank interest rates experienced minor changes as compared to the previous week. Specifically, the average inter-bank interest rate for overnight term remained unchanged as compared to the previous week, at 4.30% p.a. The average inter-bank interest rate for 1-week term decreased by 0.01 percentage point, to 4.31% p.a.. Meanwhile, the average inter-bank interest rate for 1-month term increased slightly by 0.02 percentage points, to 4.41% 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 |
4.95 |
4.90 |
4.88 |
4.62 |
4.82 |
5.61 |
- |
USD |
4.30 |
4.31 |
4.39 |
4.41 |
4.41 |
- |
- |
Translated by HY