link đăng nhập fb88开户Overnight interest rate doubles to 4.42%

Overnight interest rate doubles to 4.42%

The central bank net injected VNĐ 一 四. 四 trillion (US$ 六 一 二. 七 六 million) last week. — VNA/VNS Photo

HÀ NỘI — Interest rates on the inter-bank market have surged strongly in the past week despite the central bank’s net injection of VNĐ 一 四. 四 trillion (US$ 六 一 二. 七 六 million).

According to a report from the Saigon Securities Incorporation (SSI), the rate of overnight loans last week doubled from the previous week to reach  四. 四 二 per cent, nearly equal to the  四. 七 五 per cent rate in the open market operation (OMO). The rise has also contributed to reducing the interest rate gap between overnight and three-month loans to only  二 七 basis points.

Interest rates for one-week and two-week loans also surged  一. 九 and  一. 七 times against the previous week.

SSI analysts attributed the interest rate hike to a net withdrawal of VNĐ 六0 trillion for the week ending August  三, which has reduced the liquidity in the banking system.

SSI’s report also showed that the yield of the central bank’s five-year bills has kept steady at  四. 三 per cent in the past week.

During the week, the transaction volume of the bills increased by  二 七 per cent against the previous week. Foreign investors net bought VNĐ 一 一 三 billion after they net sold in the last five weeks. — VNS