Interbank Dong, Dollar Trading Rebound, Dong O/N Rate Up 1.09%
July 29 2011
VietFinanceNews.com - Trading value of the dong and dollar both rebounded to VND160.661 trillion and $3.413 billion on the inter-bank market during the week ending July 20, representing increases of 22.5% and 14.4% from last week, said the State Bank of Vietnam (SBV) in a statement.
Overnight and one-week trading of the dong was VND 109.672trillion, accounting for 68% of total dong trading value; while dollar overnight trading was $2.107 billion, making up 61.74% of total dollar trading value.
The average interest rates of the dong on the inter-bank market increased by 0.02-2.7% for most terms, but 2-week and 3-month interest rates fell by 0.13% and 0.25%, respectively. The average overnight interest rate for the dong was 12.7% p.a. last week, up 1.09% from last week.
The average interest rates for dollars also rose by between 0.05% and 0.32% for most terms. However, one-week interest rates edged down 0.03%, the average overnight interest rate for dollars was 1% p.a., down 0.4% from the previous week.
Dong lending interest rates were 16.5%-20% p.a. for rural areas, 18-21% p.a. for production loans and 22-25% p.a. for non-production loans. Dollar lending rates were 6-7.5% for short terms, 7.5-8% for medium to long terms.
However, deposit interest rates for both currencies were not available.
Trading in the local forex market remained stable last week. Commercial banks continued to net buy dollars from the public and organizations, helping to improve supply of dollars in the banking system.
Local lenders quoted dollar prices at VND 20,570 – 20,610, respectively for bids and ask.
http://www.vietfinancenews.com/2011/...g-rebound.html
July 29 2011
VietFinanceNews.com - Trading value of the dong and dollar both rebounded to VND160.661 trillion and $3.413 billion on the inter-bank market during the week ending July 20, representing increases of 22.5% and 14.4% from last week, said the State Bank of Vietnam (SBV) in a statement.
Overnight and one-week trading of the dong was VND 109.672trillion, accounting for 68% of total dong trading value; while dollar overnight trading was $2.107 billion, making up 61.74% of total dollar trading value.
The average interest rates of the dong on the inter-bank market increased by 0.02-2.7% for most terms, but 2-week and 3-month interest rates fell by 0.13% and 0.25%, respectively. The average overnight interest rate for the dong was 12.7% p.a. last week, up 1.09% from last week.
The average interest rates for dollars also rose by between 0.05% and 0.32% for most terms. However, one-week interest rates edged down 0.03%, the average overnight interest rate for dollars was 1% p.a., down 0.4% from the previous week.
Dong lending interest rates were 16.5%-20% p.a. for rural areas, 18-21% p.a. for production loans and 22-25% p.a. for non-production loans. Dollar lending rates were 6-7.5% for short terms, 7.5-8% for medium to long terms.
However, deposit interest rates for both currencies were not available.
Trading in the local forex market remained stable last week. Commercial banks continued to net buy dollars from the public and organizations, helping to improve supply of dollars in the banking system.
Local lenders quoted dollar prices at VND 20,570 – 20,610, respectively for bids and ask.
http://www.vietfinancenews.com/2011/...g-rebound.html