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Weekly information on banking activities (Nov 06 - 12, 2010)
1. Mobilizing and lending rates:
The mobilizing and lending rates were as follows:
- The VND interest rates:
+ The mobilizing rates were up by 1 percentage point p.a as compared to the previous week. The mobilizing rates were commonly quoted at 3% p.a for demand term, 7.5-11.2% p.a for below 1 month term, 12% p.a for 1 – 12 month terms and 11-12% p.a for over 12 month terms. Moreover, several commercial banks applied the forms of interest rate and cash bonus, or negotiable interest rate for deposits of great value, therefore the actual mobilizing rates were higher than the quoted mobilizing rates.
+ The lending rates increased by 1 – 1.2 percentage points p.a in comparison with the previous week. The lending rates were commonly at 12 – 12.75% p.a for agricultural and rural development, export and small and medium enterprises, and 13-16% p.a for other productive and business enterprises.
- The USD interest rates were stable as compared to the previous week.
+ The mobilizing rates were at 0.2-0.5% p.a for demand term, 3.5-4.2% p.a for below 1 month term, 3.7-5.2% p.a for 3 -12 month terms and 4.2-5.6% p.a for over 12 month terms. The mobilizing rate of economic institutions was commonly 1% p.a.
+ The lending rates were commonly 5.5-6.5% p.a for short terms and 6-8% p.a for medium and long terms.
The specific mobilizing and lending rates were as follows:
|
The quoted mobilizing rates |
Currency |
Demand
(% p.a.) |
Below
1 month
(%p.a) |
3 months
(% p.a.) |
6 months
(% p.a.) |
12 months
(% p.a.) |
|
Group of state- owned commercial banks |
VND |
2.4–3.0 |
7.5-8.0 |
12.0 |
12.0 |
12.0 |
|
USD (Applicable to economic institutions) |
0.2-0.3 |
1.0 |
1.0 |
1.0 |
1.0 |
|
USD (Applicable to individuals) |
0.2-0.3 |
3.5-3.7 |
3.7-3.9 |
4.0-4.5 |
4.4-4.8 |
|
Group of joint-stock commercial banks |
VND |
2.4-4.2 |
10-11.2 |
11.9-12 |
11.9-12 |
11.9-12 |
|
USD (Applicable to economic institutions) |
0.2-0.5 |
1.0 |
1.0 |
1.0 |
1.0 |
|
USD (Applicable to individuals) |
0.25-1.0 |
3.6-4.2 |
3.9-5.0 |
4.0-5.1 |
4.2-5.2 |
The specific lending rates in VND and USD were as follows:
|
The average lending rates |
Currency |
Short term (% p.a.) |
Medium & long terms (% p.a.) |
|
Group of state- owned commercial banks |
- Ordinary loans
- Loans for agricultural production and export, production expense for small and medium enterprises |
12.75-14.2
12-12.75 |
14.5-15.5
13-14 |
|
USD |
5.5-6.0 |
6.0-7.0 |
|
Group of joint-stock commercial banks |
- Ordinary loans
- Loans for agricultural production and export, production expense for small and medium enterprises |
13.5-15
13-14 |
15-16.5
14-15 |
2. Transactions turnover:
According to the express reports from commercial banks by November 10, the total amount of transactions in the inter-bank market reached about VND 100,756 billion and USD 3,595 million, i.e. VND 20,151 billion and USD 719 million per day averagely.
Most transactions in VND were short terms (Overnight and 1 week), of which the amount of overnight transactions in VND was 55,456 billion, accounting for 55% of the total amount of transactions in VND. The amount of overnight transactions in USD was 2,319 million, accounting for 65% of the total amount of USD transactions.
3. The inter- bank average interest rates:
The interest rates by November 10 were as follows:
- For the rates in VND, the average VND interbank interest rate for most terms increased by 1.15 – 3.56 percentage points p.a, of which the rate for overnight term remarkably rose by 3.56 percentage points p.a to 12.19% p.a. The rate for demand term decreased by 0.23 percentage point p.a.
The rates for below 3 months terms ranged between 12 – 13% p.a. There was no transaction for 6 month term. There were a few transactions for 12 month term.
For the rates in USD, the average interest rates in USD increased for most terms; of which the rates for overnight and 1 week terms slightly rose. The rates for 2 week – 6 month terms remarkably increased by 0.13 – 0.73 percentage points p.a. The rate for 12 month term decreased by 0.17 percentage point p.a. There was no transaction for demand term. There were a few transactions for over 3 months terms.
The average interest rates in the inter-bank market were as follows (% p.a.):
|
Term |
Overnight |
1 week |
2 weeks |
1 month |
3 months |
6 months |
12 months |
Demand |
|
VND |
12.19 |
12.71 |
12.75 |
12.46 |
12.73 |
11.32(*) |
11.82 |
1.84 |
|
USD |
0.45 |
0.76 |
0.76 |
0.74 |
1.39 |
1.70 |
1.70 |
- |
((*) is the rate from the source of statistical report)
4. Exchange rate
In the context of the complex developments of the gold price in international markets and high increase of the domestic gold price, the SBV, on November 09, allowed several commercial banks and gold trading enterprises to import gold in order to stabilize the domestic gold market.
In another action to implement the Government’s directive of stabilizing the foreign exchange market, stably maintaining the exchange rate and contributing to limiting trade deficit, the SBV sold foreign currencies to meet the demand for importation of essential commodities. Moreover, the SBV established the Inter – Departmental Working Team in order to monitor the lending in foreign currencies (Including loans in VND to buy foreign currencies) and payment of foreign currencies for importation of those commodities belonging to the non-essential and discouraged list (According to Decision No.1899/QD – BCT dated April 16, 2010) and the list of machines, equipments and materials produced in the domestic market (According to Decision No.2840/QD – BCT dated May 28, 2010).As a result, the forex market had showed positive signs. The exchange rate quoted by commercial banks was commonly 19,495 - 19,500 VND/USD.
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