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Vietnam Financial News

Vietnam Business » Vietnam Financial News » Trading of Dong, Dollar Rises Last Week on Vietnam Interbank Market

Trading of Dong, Dollar Rises Last Week on Vietnam Interbank Market

Trading of dong and dollar rose last week on Vietnam interbank market, said the State Bank of Vietnam May 25. The State Bank of Vietnam May 25 said that the total trading value of dong on the inter-bank market in the week ending May 21 rose by VND4.397 trillion from the previous week to VND83.758 trillion while that of U.S. dollar was up 115 million to $2.430 billion.

The total overnight trading value was VND35.786 trillion, accounting for 43% of the total trading turnover in the Vietnamese dong, while that of U.S. dollars was $1.247 million, or 51% of the total turnover in the greenback.

The daily turnover of dong and U.S. dollar averaged at VND16.752 trillion and $486 million a day last week, the central bank said in a press release posted on its website on May 25.

The average lending interest rates of the dong on the inter-bank market rose for terms of 1 week, 3 months, and 12 months. The highest rate increase was seen in 12 month term, by 0.71% to 11.43% p.a. while other two term rates rose slightly.

Interest rates for overnight, 2 weeks, 1 month and demand terms were down slightly while the biggest rate decline was in 6 month term, falling 0.81% to 11.19%.

Overnight interest rates averaged at 7.09% per annum last week, down 0.05% against the previous week. Interest rates for 1 week to 1 month were under 9.51%.

Lending rates for 3 month, 6 month and 12 month terms were high at between 11.19% to 11.43% p.a. but the transactions accounted for only 2.3% of the total.

The highest lending rate was recorded at 12% per annum and the lowest at 6% (excluding demand rates).

The lending interest rates for U.S. dollar loans rose slightly in 1 week and 6 month terms, increased sharply by 1.12% to 2.23% in 3 month term but down mildly in 2 week and 1 month terms.

Overnight rate was at 0.44% per annum while rates for other terms varied from 0.71% to 2.4% per annum. No 12 month transaction was recorded last week.

Last week, foreign exchange market was fairly stable, U.S. dollar liquidity was high but trading was sluggish as supply met demand. The State Bank of Vietnam will continue to take measures to ensure the market stability.

Vietnam Business And Financial News Network. Source [stox.vn]

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