Developments in Money Market and Inter-bank Market (June 2-6, 2025)
1. Forex market and exchange rates
On June 2 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 25,840/26,200 per USD, unchanged from the rates of the last working day of the previous week (May 30, 2025). By the end of June 6, 2025, the exchange rates were quoted at VND 25,860/26,220 per USD, an increase of VND 20 per USD as compared with the rates of June 2, 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 2,373,996 billion, an average of VND 474,799 billion per day, a decrease of VND 108,131 billion per day as compared to the previous week. Meanwhile, the transaction amount in USD was equivalent to VND 532,069 billion, an average of VND 106,414 billion per day, an increase of VND 7,329 billion per day as compared to the previous week.
Regarding the maturities, most VND transactions were for overnight and 1-week terms, accounting for 94% and 3% of the total amount of transactions respectively. For USD transactions, overnight and 1-week terms accounted for 86% and 10% 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, 1-week and 1-month terms decreased by 0.47 percentage points, 0.55 percentage points, and 0.39 percentage points respectively, to 3.29% p.a., 3.57% p.a., and 4.13% 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-week terms remained unchanged at 4.29% p.a. and 4.32% p.a. respectively. Meanwhile, the average inter-bank interest rate for 1-month term decreased slightly by 0.03 percentage points, to 4.42% 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 |
3.29 |
3.57 |
3.83 |
4,13 |
4,56 |
5.06 |
- |
USD |
4.29 |
4.32 |
4.38 |
4.42 |
4.45 |
- |
- |
Translated by HY