HCMC – Interbank interest rates in Vietnam dropped significantly during the week of October 7-11, with the six-month term falling by 96 basis points, the largest decline across all tenors, according to data from the State Bank of Vietnam (SBV).
The total volume of Vietnamese dong transactions in the interbank market reached VND1.92 quadrillion, averaging VND385.97 trillion per day, down by VND43.84 trillion per day compared to the previous week.
Transactions in the U.S. dollar, when converted to Vietnamese dong, amounted to around VND379.78 trillion for the week, with a daily average of VND75.96 trillion, down by VND10.44 trillion against the previous week.
On October 7, Vietcombank listed the dong-dollar exchange rate at VND24,670 per dollar for buying and VND25,030 per dollar for selling, an increase of VND90 from the end of the previous week. By October 11, the rate had slightly decreased to VND24,640 per dollar for buying and VND25,000 per dollar for selling.
Most Vietnamese-dong transactions were focused on overnight lending, accounting for 87.73% of the total volume. In the U.S. dollar market, overnight and one-week terms accounted for 72.39% and 23.80% of transactions, respectively.
Interest rates for Vietnamese-dong transactions edged down across all tenors, with the three-week term down by 85 basis points and the two-month term dropping by 20 basis points.
In the U.S. dollar market, overnight rates rose by one basis point, while one-week and two-month terms both fell by 20 basis points.
