Average 3-month interbank interest rate hits 1-year low on Oct 21

The average interbank interest rate for 3-month term fell to 11.93% on Oct 21, the lowest level since November 16, 2010, the central bank’s data showed.

The overnight interest rates slipped to 12.03%, down 0.96% from Oct 20 and 2.2% from Oct 19.

The average 12-month rate plunged to 14.9% on Oct 21, down 5.74% from the previous day.

The interbank rates for 1-week to 3-month terms also fell 0.19-1.59% while that for 6-month term soared to 16.73%, up 1.5% from Oct 20.

Total transaction volume in the interbank market on Oct 21 reached VND28,953 billion, of which VND25,875 billion or 89% were for short-term loans (overnight, 1-week, 2-week terms).

The SBV net injected VND18.171 trillion on OMO from Oct 17 to Oct 21 to support liquidity in the banking system.

Source Sophie/ News Writer/ StoxPlus

Tags: Vietnam banking industry, Vietnam finance, Vietnam financial

Posted by VBN on Oct 26 2011. Filed under Banking-Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry