Vietnam Daily News

Average 12-month Interbank Interest Rate Hits 1-month High on December 8

Written by Dailynews.vn Wednesday, 14 December 2011 15:44

The average interbank interest rate for 12-month term rose 0.6 percent to 21 percent p.a. on December 8, the highest level since November 8, 2011, the central bank's data showed.

Specifically, overnight interest rate on December 8 edged up by 0.63 percent p.a. to 14.52 percent p.a. compared to that of December 7. Interest rates for 1-week and 2-week terms also saw upward trend, rising by 0.17 percent and 0.63 percent p.a., respectively.

Meanwhile, average interbank interest rates slipped by 2.29 percent p.a. for 1-month, 1.91 percent p.a. for 2-month and up 0.29 percent p.a. for 6-month terms.

Total trading value in the interbank market on December 8 reached 29.067 trillion dong, of which 12.1 trillion dong or 41.6 percent were for overnight loans. 12-month loans accounted for an insignificant proportion, staying at 0.2 billion dong of total trading volume.

The State Bank of Vietnam net pumped 5.008 trillion dong on open market operations from December 5 to December 9, compared to the net withdrawal of 2.3 trillion dong in the previous week.

Source: www.intellasia.net/news/articles/finance/111350699.shtml