Interbank overnight lending rate jumps to over 10pct/yr

09-Dec-2010 Intellasia | Vietbiz24 | 7:01 AM

On December 3, the overnight lending rate in the interbank market exceeded the threshold of 10 percent per year after nearly three weeks of stability.

The interest rate for short terms also increased strongly again.

According to the State Bank of Vietnam (SBV), the interbank overnight lending rate on December 3 climbed to 10.21 percent per year, rising 1.72 percent against the end of November.

The interest rate also surged by 1.5 percent to 13.5 percent per year for 12 month term, marking the highest level as of November 12.

The interest rate also increased in almost short terms to 12.34 percent for one week term, two weeks at 13.04 percent and one month at 13.43 percent per year.

The three-month interest rate remained stable at over 13 percent per year. On December 3, it was 13.5 percent per year.

Notably, the six-month interest rate slipped to 12.12 percent per year.

During the last two weeks of November, the central bank withdrew 28 trillion dong in stead of pumping more capital like two first weeks of November.