Overnight interest rates hit two-month high

Overnight interest rates hit two-month high

The overnight rate last week hit two-month high of 0. 九 per cent, up  一 四 basis points from the previous week. — Photo VIB

HÀ NỘI — 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. 九 per cent, up  一 四 basis points from the previous week. The one-week rate also inched up by six basis points to  一.0 五 per cent. 

In contrast, the rates for one-month and three-month loans last week inched down by  一 and  四 basis points, respectively.

However, the liquidity of the banking system last week remained good as the central bank still issued bills worth of VNĐ 一 八. 九 trillion (US$ 八 三 二. 六 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  五-year,  七-year,  一0-year, and  一 五 years. The bond offer of all tenors was worth VNĐ 二. 一 五 trillion.

The bid for the bonds was continuously increased, reaching nearly VNĐ 七. 三 九 trillion, up more than VNĐ 一 trillion against the previous auction.

At the auctions,  五-year,  七-year and  一0-year bonds worth nearly VNĐ 一. 一 七 trillion were successfully issued. — VNS