Dong lending rates dip after long holiday
HCMC - The average interest rate for Vietnam dong loans on the interbank market fell by 17-32 basis points for all tenors at the start of the Lunar New Year, or early February.
The interest rate for overnight loans between banks has dipped below 5%, having stayed above this level before Tet. The overnight rate is currently 4.95% and 5% per year for a one-week tenor, 5% for a two-week tenor and 5.13% for a one-month tenor.
The average interbank rate for U.S. dollar loans has slightly gone down for tenors of two weeks or longer, while no change has been recorded for shorter terms. Specifically, the rate is 1.14% per annum for overnight loans, 1.3% for one week, 1.42% for two weeks and 1.52% for one month.
No transactions have been registered in open market operations (OMO).
On the secondary government bond market, yields have moved little for maturities under seven years, while no change has been recorded for the term of 15 years.
The currency markets were quiet in the first session of the year. The central rate was quoted at VND22,199 per U.S. dollar, down slightly against the pre-Tet level.
The central bank kept the buying price at VND22,575 and the selling price VND22,815, or VND50 below the ceiling.
On the interbank market last Thursday, the closing rate was VND22,640 per dollar, an increase of VND30 from the previous session. On the free market, the exchange rate stood at VND22,900-23,050, up VND50 for buying and VND100 for selling against their pre-Tet levels.