Developments in Money Market and Inter-bank Market (9-13 December 2024)
1. Forex market and exchange rates
On 9 December 2024, 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 25,157/25,460 per USD, a decrease of 7 VND per USD as compared with the rates of the last working day of the previous week (6 December). By the end of 13 December 2024, the exchange rates were quoted at VND 25,177/25,477 per USD, an increase of VND 20/17 per USD as compared with the rates of 9 December 2024.
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 1,949,255 billion, an average of VND 389,851 billion per day, an increase of VND 31,534 billion per day as compared to the previous week. Meanwhile, the transaction amount in USD was equivalent to VND 408,753 billion, an average of VND 81,751 billion per day, an increase of VND 11,071 billion per day as compared to the previous week.
Regarding the maturities, most VND transactions were for overnight and 1-week terms, accounting for 91.03% and 4.07% of the total amount of transactions respectively. For USD transactions, overnight and 1-week terms accounted for 85.97% and 9.17% 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 3-month term and below increased with a range from 0.10% p.a. to 0.54% p.a. Meanwhile, the average inter-bank interest rate for 6-month term decreased by 0.01% p.a.
For transactions in USD: As compared to the previous week, the average inter-bank interest rate for overnight term remained unchanged. The average inter-bank interest rates for other terms experienced changes from -0.03% p.a. to 0.22% 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 |
4.24 |
4.46 |
4.58 |
4.93 |
5.49 |
5.47 |
- |
USD |
4.60 |
4.64 |
4.69 |
4.71 |
4.75 |
5.41 |
- |
Translated by HP