Developments in Money Market and Inter-bank Market (March 24-28, 2025)
1. Forex market and exchange rates
On March 24, 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 25,450/25,810 per USD, an increase of VND 50 USD as compared with the rates of the last working day of the previous week (March 21, 2025). By the end of March 28, 2025, the exchange rates were quoted at VND 25,400/25,760 per USD, a decrease of 50 VND per USD as compared with the rates of March 24, 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 2,471,825 billion, an average of VND 494,365 billion per day, an increase of VND 25,778 billion per day as compared to the previous week. Meanwhile, the transaction amount in USD was equivalent to VND 539,441 billion, an average of VND 107,888 billion per day, a decrease of VND 5,575 billion per day as compared to the previous week.
Regarding the maturities, most VND transactions were for overnight and 1-week terms, accounting for 85% and 9% of the total amount of transactions respectively. For USD transactions, overnight and 1-week terms accounted for 86% 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 overnight term decreased slightly, while the average inter-bank interest rates for other terms increased. Specifically, the average inter-bank interest rates for overnight term decreased by 0.05 percentage points, to 4.11% p.a. Meanwhile, the average inter-bank interest rates for 1-week and 1-month terms increased by 0.18 percentage points and 0.15 percentage points respectively, to 4.43% p.a. and 4.56% p.a. respectively.
For transactions in USD: As compared to the previous week, the average inter-bank interest rates for the key terms experienced opposite movements as compared to the previous week. Specifically, the average inter-bank interest rates for overnight term remained unchanged at 4.30% p.a., the average inter-bank interest rate for 1-week term increased by 0.01 percentage point, to 4.33% p.a., while the average inter-bank interest rate for 1-month term decreased by 0.04 percentage points, to 4.39% 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 |
4.11 |
4.43 |
4.52 |
4.56 |
4.82 |
5.72 |
5.32 |
USD |
4.30 |
4.33 |
4.39 |
4.39 |
4.45 |
4.72 |
- |
Translated by HY