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Interbank trading turnover in US dollar surges over 50pct in week ending Apr 6
The State Bank of Vietnam (SBV)’s report on banking operations during the week between April 2 and 6 showed that the total trading value in the interbank market in dong reached approximately 182.747 trillion dong, averaging at about 36.549 trillion dong per day and in US dollar at 175.322 trillion dong, or an average of about 35.064 trillion dong per day.
In comparison with the previous week (from March 26 to 30), the trading value in dong decreased 9.7% while that in US dollar soared up to 52%.
In week, interbank transactions occurred mainly in short terms such as overnight and one week whereby, the total trading value for short terms in dong reached about 123.561 trillion dong, or 68% of the total transaction volume in dong and in US dollar for short terms at approximately 149.768 trillion dong, or 85% of the total trading value in US dollar.
The interbank average interest rate kept falling in many terms.
As reported by the central bank, the interbank average interest rate in dong in week continued to fall for terms of 1-week, 2-months, 3-months and more than 12-months. The fall ranged between 0.1% (2-month term) and 1.5% (above 12-month term).
Meanwhile, the average interest rate increased in remaining terms, of which, 3-weeks, 1-month and 6-months saw strong increases of 0.69%, 0.79% and 1.71% and other terms posted slight increases.
9-month term remained unchanged at 13.5% p.a. from the previous week.
For transactions in US dollar, the average interest rate continued to fall for terms of 1-week and 1-month by 0.1% and 0.34%.
For remaining terms, the interest rates tend to increase by 0.17% (overnight term) and 2.19% (12-month term). In the period, there were no transactions in US dollar for 9-month term.
Credit institutions posted net purchase of foreign currency from customers.
The central bank's report also said that the forex market in week continued positive evolutions, forex rate was stable and foreign currency liquidity of the entire banking system remained good.
In week, the forex rate was quoted at 20,820-20,870 dong/US dollar at commercial banks commonly.
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