Vietnam Daily News

Nine-month interbank interest rate stays at 21pct p.a in week December 3-9

Written by Dailynews.vn Saturday, 17 December 2011 17:44

During the week of December 3 - 9, 2011, the average interest rate in dong on the interbank market this week slightly edged down for 2-months and 6-months, while the interest rate for 1-week, 2-weeks and 3-months substantially reduced, with the decrease level from 0.45 percent to 0.72 percent, according to the State Bank of Vietnam's latest report on banking activities released on Thursday.

The interest rates for terms of overnight, three weeks and one-month rose relatively by 0.66 percent, 0.85 percent and 0.61 percent respectively. Particularly, after a week down, the long-term interest rate (12 months and more) increased again with the large increase, rising by 1.67 percent and 3.55 percent respectively.

Generally, the interest rate platform did not fluctuate much compared with the interest rate of the previous week. The average interest rate for the overnight term was at 13.71 percent per year, up 0.66 percent. Interest rates of other terms ranged from 13.05 percent (3-month) to 17.98 percent/ year (12-month). Only the 9-month interest rate stood at 21.00 percent, but transactions rarely arose in this term.

This week, the average interest rate tended to decrease relatively against previous weeks for the short terms from two weeks or less and 6 months or more with the rate decreasing from 0.42 percent (the overnight term) to 0.91 percent (1-week term), 1-month term down 0.22 percent.

The average interest rate of remaining terms increased as the rate rose slightly for 3-months (up by 0.06 percent), relatively for 3-weeks and 2-months (up by 0.73 percent and 0.68 percent respectively).

The average overnight interest rate this week stood at 0.77 percent per year, down by 0.42 percent from the previous week, except for the interest rate of 6-month term that stayed at 5.43 percent per annum, the interest rates of remaining terms ranged from 1.53 percent (2-weeks) to 3.75 percent per year (3months).

This week, the market did not see any US dollar transactions for terms of 9-months and 12-months.

Source: www.intellasia.net/news/articles/finance/111351120.shtml