Developments in Money Market and Inter-bank Market (May 26-30, 2025)
1. Forex market and exchange rates
During the week of May 26-30, 2025, the exchange rates experienced an upward trend. On May 26, 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 25,730/26,090 per USD, a decrease of VND 40 USD as compared with the rates of the last working day of the previous week (May 23, 2025). By the end of May 30, 2025, the exchange rates were quoted at VND 25.840/26.200 per USD, an increase of VND 110 USD as compared with the rates of May 26, 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 2,914,649 billion, an average of VND 582,930 billion per day, an increase of VND 88,771 billion per day as compared to the previous week. Meanwhile, the transaction amount in USD was equivalent to VND 495,421 billion, an average of VND 99,084 billion per day, a decrease of VND 6,966 billion per day as compared to the previous week.
Regarding the maturities, most VND transactions were for overnight and 1-week terms, accounting for 89% and 6% of the total amount of transactions respectively. For USD transactions, overnight and 1-week terms accounted for 80% and 16% 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 0.01 percentage point, 0.22 percentage points, and 0.29 percentage points respectively, to 3.76% p.a., 4.12% p.a., and 4.52% 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 rate for overnight term remained unchanged at 4.29% p.a. The average inter-bank interest rates for 1-week and 1-month terms increased by 0.02 percentage points and 0.06 percentage points respectively, to 4.32% p.a. and 4.45% 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 |
3.76 |
4.12 |
4.19 |
4.52 |
4.72 |
5.08 |
- |
USD |
4.29 |
4.32 |
4.36 |
4.45 |
4.51 |
- |
- |
Translated by HY