Developments in Money Market and Inter-bank Market (March 10-14, 2025)
1. Forex market and exchange rates
On March 10, 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 25,340/25,700 per USD, an increase of VND 10 USD as compared with the rates of the last working day of the previous week (March 7, 2025). By the end of March 14, 2025, the exchange rates were quoted at VND 25,350/25,710 per USD, an increase of 10 VND per USD as compared with the rates of March 10, 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 2,247,818 billion, an average of VND 449,564 billion per day, a decrease of VND 35,692 billion per day as compared to the previous week. Meanwhile, the transaction amount in USD was equivalent to VND 542,983 billion, an average of VND 108,597 billion per day, an increase of VND 12,329 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 88% and 7% 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 the key terms experienced opposite movements. Specifically, the average inter-bank interest rates for overnight and 1-week terms increased by 0.15 percentage points and 0.17 percentage points respectively, to 4.53% p.a. and 4.50% p.a. respectively. Meanwhile, the average inter-bank interest rate for 1-month term decreased by 0.17 percentage points, to 4.26% p.a.
For transactions in USD: As compared to the previous week, the average inter-bank interest rates for most terms experienced minor changes as compared to the previous week. Specifically, the average inter-bank interest rate for overnight term was remained at 4.29% p.a. The average interest rates for 1-week and 1-month terms increased by 0.02 percentage points and 0.04 percentage points respectively, to 4.29% p.a. and to 4.44% 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 |
4.53 |
4.50 |
4.48 |
4.26 |
4.75 |
4.66 |
5.58 |
USD |
4.29 |
4.29 |
4.49 |
4.44 |
4.40 |
- |
- |
Translated by HY