1.Mobilizing rates:
The specific mobilizing rates were as follows:
| The quoted mobilizing
rates |
Currency |
Demand (% p.a.) |
3 months (% p.a.) |
6 months (% p.a.) |
12 months (% p.a.) |
Above 12 months (% p.a.) |
| Group of state- owned
commercial banks |
VND |
2.4–3.0 |
11-11.2 |
11-11.2 |
11-11.2 |
10.5-11.2 |
| USD
(applicable to economic institutions) |
0.2-0.3 |
1 |
1 |
1 |
1 |
| USD
(applicable to individuals) |
0.2-0.3 |
3.5-3.8 |
3.5-3.8 |
3.5-4.2 |
3.8-4.2 |
| Group of joint-stock commercial
banks |
VND |
2.4-4.2 |
11-11.2 |
11-11.2 |
11-11.2 |
10.5-11.2 |
| USD
(applicable to economic institutions) |
0.2-0.5 |
1 |
1 |
1 |
1 |
| USD
(applicable to individuals) |
0.25-1.0 |
3.6-4.5 |
3.6-4.7 |
4.0-5.0 |
4.2-5.0 |
2. Lending rates
The Nam A Joint-Stock Commercial Bank reduced the lending rate applicable to export enterprises down to 13.2% p.a from 14.2% p.a
The lending rates in USD were unchanged as compared to the previous week.
The specific lending rates in VND and USD were as follows:
| The average lending rates |
Currency |
Short term (% p.a.) |
Medium & long terms (% p.a.) |
| Group of state- owned
commercial banks |
VND |
Ordinary loans |
13.0 – 14.0 |
13.5 – 14.5 |
| Loans for
agricultural production and export |
12 – 12.5 |
13 – 13.5 |
| USD |
|
5.5-6.0 |
6.0-7.0 |
| Group of joint-stock commercial
banks |
VND |
Ordinary loans |
14-14.5 |
14.5-15.5 |
| Loans for
agricultural production and export |
12 -13.5 |
13.5-14.5 |
| USD |
|
6.0-8.0 |
6.5-8.0 |
3. Transactions turnover :
The total amount of transactions in the inter-bank market reached about VND 101,223 billion and USD 1,963 million, i.e. VND 20,245 billion and USD 393 million per day averagely. The amount of transactions in VND and USD slightly increased by 3,851billion and 35 million respectively. Most transactions in VND were short terms (overnight, 1 week and 2 weeks), of which the amount of overnight transactions in VND was 37,057 billion, accounting for 37% of the total amount of transactions in VND. The amount of overnight transactions in USD was 1,134 million, accounting for 58% of the total amount of USD transactions.
4. Interest rates:
For the rates in VND, the average VND interest rate slightly decreased for 1 and 3 month terms. The rates for other terms were on a upward trend but the increase was not remarkable. The rate for 12 month term significantly increased to 10.68% p.a from 9.86% p.a as compared to the previous week.
The average overnight interest rate was 6.78% p.a, up by 0.08 percentage point as compared to the previous week. The rates for short terms (below 3 months) ranged between 6.78% - 8.56% p.a. The rates for over 3 month terms were around 10% p.a, however, the rate for 6 month term was over 11.6% p.a. The highest lending rate was 12% p.a. while the lowest rate was 6% p.a. (excluding the demand rate).
For the rates in USD, the average interest rates in USD were on a downward trend, of which the rate of 3 month term experienced the clearest decrease, down to 1.55% p.a from 2.64% p.a (down by 1.09 percentage point); the other rates decreased insignificantly. The rate for 1 month term slightly increased. The rate for 12 month term dramatically increased to 3.13% p.a from 2.00% p.a (up by 1.13 percentage point).
The average overnight interest rate was 0.33% p.a; the other rates ranged between 0.57% – 3.13%. There was no transaction in USD for demand loans.
The average interest rates in the inter-bank market were as follows (% p.a.):
| Term |
Overnight |
1 week |
2 weeks |
1 month |
3 months |
6 months |
12 months |
Demand |
| VND |
6.78 |
7.27 |
7.69 |
8.56 |
9.74 |
11.66 |
10.68 |
2.29 |
| USD |
0.33 |
0.57 |
0.7 |
0.96 |
1.55 |
1.85 |
3.13 |
- |
5. Exchange rate
Following the SBV’s adjustment of the average VND/USD interbank exchange rate to 18,932 from 18,544 applicable on August 18, the exchange rate quoted by commercial banks was stable at 19,480-19,500. The liquidity was improved. Commercial banks started being able to buy foreign currencies from the market and sold a large amount of foreign exchange to clients.