Six-month interbank interest rate drops 1.12pct to 12.38pct: SBV

The interbank average interest rate for 6-month term declined by 1.12%, from 13.5% to 12.38% per year, according to the State Bank of Vietnam’s website on Sept. 29.
In addition, the three-month interest rate also plunged 1.04% to 13.17% from 14.21% / year.

The interbank average interest rate for overnight, 1 week and 2 week terms decreased between 0.23% to 0.41%.

In particular, the overnight interest rate was down 0.4% from 12.56% / year to 12.16% / year, the one week interest rate down 0.41% from 13.31%/year to 12.9% / year ; two week interest rates down 0.23% from 13.52%/year to 13.29%/year.

The interbank interest rate for the 12-month term increased by 0.5%, from 13.5% / year to 14% / year.

In the four sessions from Sept. 26-29, the State Bank pumped 5 trillion dong on open market operations (OMO) with the interest rate of 14% and repo term of 14 days, but did not withdraw any capital.

In September, the central bank injected 82.99 trillion dong, and drew about 54.99 trillion dong, bringing the net injection on OMO this month to 28 trillion dong.

According to Tri Thuc Tre (Young Intellectuals) newspaper, in the first week of October, the central bank will draw about 27 trillion dong, which was pumped out from Sept. 19th – 23rd, so this week the central bank will likely have to pump out more than this figure on OMO to ensure liquidity for banks. – Source: Vietbiz24.com

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

Posted by VBN on Oct 5 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