According to an assessment of the National Financial Supervisory Commission of Vietnam about money market and foreign exchange market, the country’s money market in the first 9 nine of 2013 showed positive improvement...
According to an assessment of the National Financial Supervisory Commission of Vietnam about money market and foreign exchange market, the country’s money market in the first 9 nine of 2013 showed positive improvement.
Payment of the banking system has been strengthened with an abundant amount of money as its deposit growth increases far more than its credit growth. Specifically, according to the data reported by the State Bank, up to September 18, deposits of the whole banking system rose by 11.74% (VND deposit: 11.63% up; foreign currency deposit: 12.43% up); and its loans went up by 5.83% (VND credit: 9.98% up; foreign currency credit: 13.05% down).
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Inter-bank interest rate generally were kept stable at 3 – 4% in most of the nine months despite there were some sudden increases in several times.
In the foreign exchange market, the National Financial Supervisory Commission affirmed that foreign exchange rates so far this year has been rather stable. The committee also forecasts that foreign exchange market and rates will continue stable in year-end months of 2013 as foreign exchange supply and demand of have few changes and foreign currency reserves keeps rising.
T.T
