Three-month interbank interest rate falls 0.9 pct: SBV

The State Bank of Vietnam (SBV), the country’s central bank said on Tuesday that the interbank average interest rate for three month-term fell 0.9 percent to 13.19 percent per annum (p.a.) from 14.09 percent p.a., while the 6-month rate rose 0.9 percent to 13.5 percent p.a. from 12.9 percent p.a. on September 13-14.
The overnight rate also decreased from the previously updated benchmark as it fell 0.19 percent from 12.53 percent p.a. to 12.34 percent p.a. Meanwhile, the 2-week interest rate decreased slightly by 0.08 percent from 13.33 percent p.a. to 13.25 percent p.a.

The interest rate for 1-week, 1-month and 12-month term surged by 0.12-0.75 percent from September 13.

In details, the rate for 1-week rose 0.14 percent to 13.2 percent p.a. from 13.06 percent p.a., the rate for 1-month inched up 0.12 percent to 13.73 percent p.a. and the rate for 12-month also rose 0.75 percent to 12.75 percent p.a.

According to the data compiled by Reuters, in the five sessions from September 12nd to 16th, the SBV pumped 22.981 trillion dong on open market operations (OMO) at the rate of 14 percent p.a. for 7-day term and withdrew 26 trillion dong.

Therefore, in this period, the central bank made a net withdrawal of 3.019 trillion dong. Meanwhile, in the previous period, the SBV posted a net injection of 21 trillion dong on OMO.

(US$1 = 20,830.00 dong)

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

Posted by VBN on Sep 21 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