Developments in Money Market and Inter-bank Market (May 19-23, 2025)
1. Forex market and exchange rates
On May 19, 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 25,760/26,120 per USD, an increase of VND 10 USD as compared with the rates of the last working day of the previous week (May 16, 2025). By the end of May 23, 2025, the exchange rates were quoted at VND 25,770/26,130 per USD, an increase of VND 10 USD as compared with the rates of May 19, 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 2,470,792 billion, an average of VND 494,158 billion per day, a decrease of VND 536 billion per day as compared to the previous week. Meanwhile, the transaction amount in USD was equivalent to VND 530,250 billion, an average of VND 106,050 billion per day, a decrease of VND 10,542 billion per day as compared to the previous week.
Regarding the maturities, most VND transactions were for overnight and 1-week terms, accounting for 92% and 3% of the total amount of transactions respectively. For USD transactions, overnight and 1-week terms accounted for 73% and 22% 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. Specifically, the average inter-bank interest rates for overnight and 1-week terms both decreased by 0.2 percentage points, to 3.75% p.a. and 3.90% p.a. respectively. Meanwhile, the average inter-bank interest rate for 1-month term increased by 0.04 percentage points, to 4.23% 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 rates for overnight and 1-month terms remained unchanged at 4.29% p.a. and 4.39% p.a. respectively. Meanwhile, the average inter-bank interest rate for 1-week term decreased by 0.01 percentage point to 4.30% 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 |
3.75 |
3.90 |
4.08 |
4.23 |
4.63 |
4.67 |
5.38 |
USD |
4.29 |
4.30 |
4.34 |
4.39 |
4.46 |
- |
- |
Translated by HY