The statistics of the week from March 2nd to 6th 2020, the trading on interbank market increased compared to the previous week but the average interest rates decreased in most terms.
Information of the State Bank of Vietnam (SBV) showed that in the week, the dong mobilisation interest rates were popular at 0.2 0.8 percent per annum for non-term deposits and deposits with terms of less than one month, 4.3 five percent per annum for deposits with terms from one to less than six months, 5.3 seven percent per annum for deposits with terms from six to less than 12 months, and 6.6 7.5 percent per annum for deposits with terms from 12 months and more.
The dong lending interest rates are ranging from six to nine percent on short terms, and nine to 11 percent per annum on medium and long terms.
According to reports of credit institutions and foreign bank branches through the statistical reporting system, the dong transaction turnover on the interbank market in the period reached approximately 310.014 trillion dong (an average of 62.003 trillion dong per day), up by 33.009 trillion dong compared to the week from February 24th to 28th 2020. The US dollar transaction turnover converted to dong in the period was about 146.773 trillion dong (an average of 29.355 trillion dong per day), up by 361 billion dong compared to the previous week.
The dong transactions mainly focused on overnight term (accounting for 69 percent of the total trading) and one week (15 percent of the total trading). For transactions made in US dollars, overnight and one-week terms recorded the highest trading value with the proportion of respectively 70 percent and 17%.
Compared to the previous week, the average interbank rates fell in most terms. Specifically, the average rates for overnight, one-week and one-month terms increased by respectively 0.24%, 0.32 percent and 0.29 percent per annum to 2.01%, 2.22 percent and 2.71 percent per annum, respectively.
