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Friday, June 14, 2024

Interbank interest rates rise

By Nguyen Tan

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HCMC – Interbank interest rates in Vietnam have recently climbed to 2.2%, the highest level since mid-June this year.

Data from the State Bank of Vietnam showed that the average interbank interest rate for overnight lending, which constitutes 90% of all transactions, had increased significantly in recent sessions, according to the Vietnam News Agency.

The overnight rate on October 23 rose to 2.22% from 1.47% in the previous session on October 20.

The interbank rates for other tenors have also inched up, with rates for one-week tenors reaching 2.47%, the highest level since June this year.

The interbank lending rates for two-week tenors have increased from 1.66% to 2.12% per year while rates for one-month tenors have soared from 1.86% to 2.4% per year.

The rates at the end of September ranged from 0.16% to 0.19%.

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