Wednesday, August 21, 2019 11:29:30 AM - Markets open
VN-INDEX 990.89 +6.22/+0.63%
HNX-INDEX 102.82 -0.15/-0.15%
UPCOM-INDEX 57.80 +0.08/+0.14%
Bank liquidity abundant after Tet
VietnamPlus - 2/20/2019 10:32:21 AM
 (0 ratings. You must sign in to rate.)
Liquidity of the banking system has been plentiful again after the Lunar New Year (Tet), helping the central bank net withdraw more than 51.55 trillion VND (2.2 billion USD) in the past week.
According to a report from the Saigon Securities Inc (SSI), the good liquidity, which was thanks to the return of cash flow to the banking system after Tet, has helped interest rates of loans in the inter-bank market decrease at all terms to 4.52 percent per year for overnight loans and 4.64 percent for one-week loans.
"The peak period when capital demand was rising sharply a few weeks before Tet has passed, and interest rates in the inter-bank market will likely remain stable at 4-4.75 percent per year," SSI forecast.
According to the SSI report, deposit interest rates listed at commercial banks are also relatively stable, with a slight rise of 0.1-0.2 percentage points applied at some banks as promotional programmes in the early days of the new year to lure depositors.
Though the central bank has tightened credit growth this year, SSI said the probability of deposit interest rate declining is quite low and the rate would remain steady as banks would have to make bank savings to be attractive to be able to compete with other investment channels.
SSI also reported the gap in USD/VND interest rates has tended to narrow, but still maintained a good level of 1.8-2.0 percent.
It forecast the USD/VND exchange rate would be steady, with the dollar traded at 23,200 VND over the next few weeks.-VNS/VNA
Read original article here
Newer News
20/08 Reference exchange rate down 2 VND on August 20
19/08 Reference exchange rate up 2 VND on August 19
16/08 Reference exchange rate up 5 VND on August 16
15/08 Reference exchange rate down 6 VND on August 15
14/08 Reference exchange rate up 10 VND on August 14
13/08 Reference exchange rate up 11 VND on August 13
12/08 Reference exchange rate continues downward trend from late last week
09/08 Reference exchange rate adjusted down for second day on August 9
08/08 Reference exchange rate down 10 VND on August 8
07/08 Reference exchange rate up 2 VND on August 7
Older News
19/02 Reference exchange rate down 6 VND
18/02 Deposit rate forecast to stay steady over next few months
18/02 Reference exchange rate down at week’s beginning
14/02 Reference exchange rate remains stable
13/02 Reference exchange rate continues increasing
13/02 VPB: VPBank named in Top 500 valuable bank brands for first time
12/02 Reference exchange rate up on first day after Tet
11/02 Banks expected to maintain good performance in 2019
31/01 Reference exchange rate unchanged on January 31
30/01 Reference exchange rate resumes upward trend
Newsletter Signup
Top Stories
Post-merger stock exchange headquarters in Hanoi
Listed companies honoured for best investor relations
Reference exchange rate up 2 VND on August 7
VN has trade surplus of about $1.6 billion in H1
Trade pacts bring opportunities for seafood industry's sustainable growth
Market Update
Last updated at 11:50:00 AM
VN-INDEX 990.89 +6.22/+0.63%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.