Inter-bank rate slides to one-month record low

Tuesday, Apr 18, 2017 15:21

Inter-bank rate slid to one-month record low last week. — Photo

The one-month record low inter-bank rate reported last week has confirmed that the liquidity of the dong has cooled down.

A report on the monetary market for the week ending April 14, released by the Saigon Securities (SSI) company, showed that overnight and one-week rates slid 30 and 20 percentage points to 4.25 per cent and 4.40 per cent, respectively, the lowest levels for the past one month.

Last week, the central bank made an injection of more than VND4 trillion (US$175.4 million) in the open-market-operation market, increasing the total amount in the market to more than VND28 trillion.

SSI also reported that interest rates quoted at commercial banks remained stable last week, with the average rate of 6 per cent listed for six-month deposits and 7 per cent for 12-month deposits. — VNS

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