Interbank overnight interest rate hits 1-month low

The interbank average interest rate on September 30 continued to fall from the previous day (September 29) whereby the interbank overnight interest rate posted the strongest fall of 0.85% to 11.31% per annum, the lowest level of this term since August 26, 2011, Vietbiz24.com cited the State Bank of Vietnam (SBV) on its website on October 5.
Particularly, the interest rate for terms of 2-weeks, 1-month and 12-months decreased by 0.14-0.25% to 13.06% per annum, 13.64% p.a. and 13.75% p.a. respectively.

Notably, the interest rate for 3-month term surged 0.54% from September 29 to 13.71% p.a. while the interest rate for 1-week and 6-month terms remained unchanged day on day.

As calculated by Vietbiz24.com, in the week between September 26 and 30, the central bank pumped net six trillion dong on open market operations (OMO), down 77.7% from the previous week.

Totally in September, SBV made a net injection of 28 trillion dong on OMO. – Source: Vietbiz24.com

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

Posted by VBN on Oct 6 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