Overnight interest rate falls up to 2.5pct, net withdrawal at over 3tr dong on OMO

In the week between September 12 and 16, the State Bank of Vietnam (SBV) posted net withdrawal of over three trillion dong on open market operations (OMO) while the overnight interest rate decreased 2.5%.
According to the data compiled by Reuters and calculated by the local online newspaper NDHMoney, in five sessions from September 12 to 16, the central bank pumped 22.981 trillion dong on OMO at the interest rate of 14% per annum (p.a.) for 7-day term and withdrew 26 trillion dong.

Thus, in the reported week, the central bank marked a net withdrawal of 3.019 trillion dong after a net injection of over 20 trillion dong in previous week.

In week, the central bank’s highest injection reached 9.125 trillion dong per day and the highest withdrawal was 12 trillion dong per day.

The interbank overnight interest rate on Friday September 16 was 12-12.5% p.a., down 2-2.5% from last weekend.

Meanwhile, the interbank interest rate for 1-week term was at 13-14.3% p.a. and it was 15-15.5% p.a. for 1-month term and 16.5-17.5% p.a. for 3-month term.

Tags: Vietnam banking industry, Vietnam finance, Vietnam financial, Vietnam interest rates

Posted by VBN on Sep 17 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