State-owned banks, including Vietcombank, have kept interest rates of dong deposits steady at 6.83 per cent per year for 12-13 month terms. — VNA/VNS Photo

The State Bank of Viet Nam (SBV) net injected more than VND5.51 trillion (US$236.69 million) into the market last week to support the liquidity of the banking system.

According to the latest report from Bao Viet Securities Company (BVSC), the SBV issued new seven-day bills worth VND49.99 trillion at an interest rate of 3 per cent.

The central bank’s net injection via the open market operation (OMO) channel was VND515 billion.

The net injection improved banks’ liquidity, helping reduce interest rates of loans in the inter-bank market. Accordingly, overnight interest rate of dong loans in the inter-bank market last week dropped by 0.65 percentage points against the previous week to 3.5 per cent. One-week and two-week interest rates also reduced to 3.45 per cent from 3.9 per cent and 4.0 per cent, respectively.

BVSC analysts forecast interest rates in the inter-bank market would remain unchanged next few months.

Last week saw commercial banks to keep their interest rates of dong deposits steady, staying at 6.83 per cent per year for 12-13 month terms at State-owned banks and 7.21-7.52 per cent per year at private commercial banks.

Banks listed lending rates at 9-11 per cent per year for medium- and long-term loans. — VNS