Statistics of the State Bank of Vietnam (SBV) on banking activities during the week from April 6th to 10th 2020 showed that the foreign exchange market and exchange rates were relatively stable when the buying/selling rates of the dong/US dollar exchange rate on websites of commercial banks fluctuated at 23,340/23,520 23,430/23,610 dong per US dollars. On the first two days of the week, the exchange rate slightly declined from 23,390/23,570 dong per US dollar to 23,370/23,550 dong per US dollar, then inched up by 60/60 dong per US dollar in the middle of the week, and fell by 30/60 dong per US dollar in the two following days to 23,340/23,520 dong per US dollar on April 10th, down by 10/10 dong per US dollar compared to the last working day of the previous week (April 3rd 2020).
The dong mobilisation interest rates were popular at 0.1 0.5 percent per annum for demand deposits and deposits with terms of less than one month, 4.3 4.75 percent per annum for deposits with terms from one month to less than six months, 5.3 6.8 percent per annum for deposits with terms from six months to less than 12 months, and 6.6 7.4 percent per annum for deposits with terms from 12 months or more.
Meanwhile, the dong lending interest rates were popular at six nine percent per annum for short terms, and nine to 11 percent per annum for medium and long-terms.
According to reports of credit institutions and foreign bank branches through the statistical reporting system, the transaction turnover in dong on the interbank market in the period reached approximately 255.336 trillion dong, equivalent to an average of 51.067 trillion dong per day, down by 3.389 trillion dong per day compared to the week from March 30th to April 3rd 2020. The US dollar turnover converted into dong in the week was about 125.938 trillion dong, equivalent to an average of 25,188 trillion dong per day, up by 1.676 trillion dong per day compared to the week before.
Regarding terms, the dong transactions mainly focused on overnight term (accounting for 71 percent of total transactions) and one-week term (accounting for 16 percent of the total transactions). For transactions in US dollar, the terms recording the largest turnover were overnight and one week, with proportion reaching respectively 78 percent and 10%.
Compared to the previous week, the average interbank rate slightly fluctuated across the terms, specifically reaching 2.78 percent per annum on overnight term, 2.89 percent per annum on one-week term, and 3.64 percent per annum on one-month term.
