Overnight interest rates hit two-month high
Overnight interest rates hit two-month high
Overnight interest rates in the inter-bank market hit a two-month high but liquidity of the banking system remained stable, a report from SSI Retail Research showed.
According to the report, inter-bank rates last week increased for the past two consecutive weeks, pushing the overnight rate to hit two-month high of 0.9 per cent, up 14 basis points from the previous week. The one-week rate also inched up by six basis points to 1.05 per cent.
In contrast, the rates for one-month and three-month loans last week inched down by 1 and 4 basis points, respectively.
However, the liquidity of the banking system last week remained good as the central bank still issued bills worth of VND18.9 trillion (US$832.6 million) during the week to withdraw the money out of the system.
As for the bond market, SSI Retail Research’s report showed that the State Treasury last week held Government bond auctions for four tenors of 5-year, 7-year, 10-year, and 15 years. The bond offer of all tenors was worth VND2.15 trillion.
The bid for the bonds was continuously increased, reaching nearly VND7.39 trillion, up more than VND1 trillion against the previous auction.
At the auctions, 5-year, 7-year and 10-year bonds worth nearly VND1.17 trillion were successfully issued.
