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Weekly information on banking activities (Oct 8-14, 2011)
1. Mobilizing and lending rates:
- The mobilizing rates were stable. The VND mobilizing rates were commonly 6% p.a for demand deposits and all the time deposits of less-than-one-month maturity, and 14% p.a for over 1 month deposits.
+ The USD mobilizing rates were 2% p.a for individualds and 0.5% p.a for economic institutions.
- The lending rates:
+ The VND lending rates continued to be stable. The VND lending rates were 17% - 19% p.a for agricultural and rural development and exporters, 18-21% p.a for other productive and business enterprises, and 22-25% p.a for the non-productive sector.
- The USD lending rates were commonly 6-7.5% p.a for short term and 7.5-8 % p.a for medium and long terms.
The specific lending rates were as follows:
|
Group of commercial banks |
Currency |
Short term
(% p.a.) |
Medium and long terms
(% p.a.) |
|
Group of state- owned commercial banks |
-VND applicable to ordinary loans
-VND applicable to loans for agricultural production and exporters |
18-19
16.5-17 |
18.5-19
17-18 |
|
USD |
6.0-6.5 |
6.5-7.0 |
|
Group of joint-stock commercial banks |
-VND applicable to ordinary loans
-VND applicable to loans for agricultural production and exporters |
18-19
17-19 |
19-21
18-20 |
|
USD |
6.0-7.5 |
7.5-8.0 |
2. Inter-bank transactions turnover:
According to the express reports of commercial banks by October 12, the total amount of transactions in the inter-bank market reached about VND 125,980 billion and a USD amount equivalent to VND 92,634 billion , i.e. VND 25,196 billion and VND 18,527 billion per day averagely.
Most transactions in VND were short terms (overnight and 1 week), accounting for 70.5% of the total amount of VND transactions. Most transactions in USD were overnight term accounting for 62% of the total amount of USD transactions.
3. The average inter- bank interest rates:
The interest rates by October 12 were as follows:
For the rates in VND, the average inter-bank interest rate for below 2 week and 6 month terms was on a upward trend with an increase of 0.56 - 1.08 percentage points p.a. The average rates for other terms were on a downward trend with a decrease of 0.05 - 0.24 percentage points p.a.
The average overnight interest rate was 12.98% p.a, up by 1.05 percentage point as compared to the previous week. The rates for other terms were commonly at 13.5% p.a. The highest interest rate was 13.78% p.a for 6 month term.
For the rates in USD, the average interest rates in USD were on a downward trend for overnight, 2 week, 3 month and 6 month terms with a decrease of 0.04 - 0.8 percentage points. However, the rates for 1 week and 1 month terms increased by 0.28 and 0.31 percentage points respectively as compared to the previous week.
The average overnight rate was 0.58% p.a, down by 0.04 percentage point p.a as compared to the previous week. The rates for other terms ranged between 1.38% - 2.68% p.a
No transaction for 12 month term was counted.
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 |
|
VND |
12.98 |
13.62 |
13.73 |
13.63 |
13.00 |
13.78 |
13.50 |
|
USD |
0.58 |
1.75 |
1.38 |
2.10 |
2.53 |
2.68 |
- |
4. Exchange rate
The foreign exchange market was not really stable. The domestic currency depreciated somewhat due to the psychological impact of the gold market on the forex market. The exchange rate quoted by commercial banks was 20,910-20,915 VND/USD.
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