Developments in Money Market and Inter-bank Market (May 5-9, 2025)
1. Forex market and exchange rates
On May 5, 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 25,780/26,140 per USD, a decrease of VND 40 USD as compared with the rates of the last working day of the previous week (April 29, 2025). By the end of May 9, 2025, the exchange rates were quoted at VND 25,780/26,140 per USD, unchanged from the rates of May 5, 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 2,530,775 billion, an average of VND 506,155 billion per day, a decrease of VND 90,464 billion per day as compared to the previous week. Meanwhile, the transaction amount in USD was equivalent to VND 626,316 billion, an average of VND 125,263 billion per day, an increase of VND 12,185 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 2% of the total amount of transactions respectively. For USD transactions, overnight and 1-week terms accounted for 88% and 8% 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 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 1.53 percentage points, 0.17 percentage points, and 0.18 percentage points respectively, to 4.07% p.a., 4.26% p.a., and 4.48% p.a. respectively.
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 decreased by 0.01 percentage point and 0.11 percentage points respectively, to 4.28 p.a. and 4.38 p.a. respectively. The average inter-bank interest rate for 1-week term remained unchanged at 4.31% 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 |
4.07 |
4.26 |
4.33 |
4.48 |
4.75 |
5.11 |
- |
USD |
4.28 |
4.31 |
4.35 |
4.38 |
4.32 |
4.53 |
- |
Translated by HY