Developments in Money Market and Inter-bank Market (June 30 – July 4, 2025)
1. Forex market and exchange rates
On June 30, 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 25,940/26,300 per USD, an increase of VND 30 per USD as compared with the rates of the last working day of the previous week (June 27, 2025). By the end of July 4, 2025, the exchange rates were quoted at VND 25,990/26,350 per USD, an increase of VND 50 per USD as compared with the rates of June 30, 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 2,976,684 billion, an average of VND 595,337 billion per day, an increase of VND 2,941 billion per day as compared to the previous week. Meanwhile, the transaction amount in USD was equivalent to VND 325,907 billion, an average of VND 65,181 billion per day, a decrease of VND 37,603 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 66% and 30% 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 and 1-week terms increased by 1.44 percentage points and 0.25 percentage points respectively, to 4.71% p.a. and 4.49% p.a. respectively. Meanwhile, the average inter-bank interest rate for 1-month term decreased by 0.11 percentage points, to 4.45% 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 rate for overnight term increased by 0.01 percentage point, to 4.31% p.a. Meanwhile, the average inter-bank interest rate for 1-month term decreased slightly by 0.06 percentage points, to 4.36% p.a., and the average inter-bank interest rate for 1-week term remained unchanged at 4.33% 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 |
4.71 |
4.49 |
4.70 |
4.45 |
4.93 |
5.21 |
5.36 |
USD |
4.31 |
4.33 |
4.41 |
4.36 |
4.46 |
- |
- |
Translated by HY