Developments in Money Market and Inter-bank Market (July 21-25, 2025)
1. Forex market and exchange rates
On July 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 25,980/26,340 per USD, unchanged as compared with the rates of the last working day of the previous week (July 18, 2025). By the end of July 25, 2025, the exchange rates were quoted at VND 25,960/26,320 per USD, a decrease of VND 20 per USD as compared with the rates of July 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 2,918,643 billion, an average of VND 583,729 billion per day, an increase of VND 63,331 billion per day as compared to the previous week. Meanwhile, the transaction amount in USD was equivalent to VND 574,671 billion, an average of VND 114,934 billion per day, an increase of VND 14,663 billion per day as compared to the previous week.
Regarding the maturities, most VND transactions were for overnight and 1-week terms, accounting for 91% and 3% of the total amount of transactions respectively. For USD transactions, overnight and 1-week terms accounted for 83% and 10% 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 0.59 percentage points, 0.78 percentage points, and 0.34 percentage points respectively, to 5.54% p.a., 5.68% p.a., and 4.96% p.a. respectively.
For transactions in USD: As compared to the previous week, the average inter-bank interest rates experienced minor changes. Specifically, the average inter-bank interest rate for overnight, 1-week and 1-month terms remained unchanged as compared to the previous week, at 4.30% p.a., 4.31% p.a., and 4.41% p.a. respectively.
The specific average inter-bank interest rates were as follows:
Overnight |
1-week |
2-week |
1-month |
3-month |
6-month |
9-month |
|
VND |
5.54 |
5.68 |
5.39 |
4.96 |
5.08 |
5.48 |
5.44 |
USD |
4.30 |
4.31 |
4.36 |
4.41 |
4.46 |
4.40 |
- |
Translated by HY