Vietnamese interest rate benchmarks
- VND VNIBOR is representative of the interest rate at which banks lend to and borrow from each other in Vietnamese Dong, anchored in money market transactions to the extent possible.
- USD VNIBOR The rate at which local Vietnamese banks, who are active in the Vietnamese money market are willing to lend to other banks in US Dollars.
- VNDFIX The benchmarks include VND-USD spot and forward FX rates as well as an implied interest rate benchmark based on exchanging VND into USD at the spot rate, lending at USD VNIBOR and converting back into VND using the forward FX rate.
VND VNIBOR Methodology
The VND VNIBOR methodology is based on industry feedback and aims to align with best practice by using executed trade data and developing a nearly risk-free reference rate. Further details can be found in the methodology and outcome statement documents.
FTSE Russell administers the VND VNIBOR benchmark, a key Vietnamese interbank interest rate with over 25 years of historical data. The methodology aims to align the benchmark to recommendations from the Financial Stability Board and user requirements.
Highlights
Forward-looking VND VNIBOR tenors |
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Supports use of overnight VND VNIBOR as a Risk-Free Rate (RFR) |
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Operational & Governance Updates |
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USEFUL LINKS
Benefits
Why VND VNIBOR
Representativeness is improved through the use of actual transaction data.
The new reformed VND VNIBOR methodology seeks to maximise trade data collection by extending the collection window.
The methodology enhances resilience by adopting a waterfall methodology.
Data access
VND VNIBOR is available through the full suite of LSEG Data & Analytics products, using the following RICs:
| Tenor | Production | ||
|---|---|---|---|
| All tenors | All | VNIBOR= | |
| VND VNIBOR benchmark | Compounded average rates | 1M | VNIVND1MAVG= |
| 2M | VNIVND2MAVG= | ||
| 3M | VNIVND3MAVG= | ||
| 6M | VNIVND6MAVG= | ||
| 9M | VNIVND9MAVG= | ||
| 1Y | VNIVND1YAVG= | ||
| VND VNIBOR Index | — | .VNIVNDTRI | |
| Primarily trade based forward looking tenors | O/N AM | VNIVNDONAMD= | |
| O/N | VNIVNDOND= | ||
| SW | VNIVNDSWD= | ||
| 2W | VNIVND2WD= | ||
| 1M | VNIVND1MD= | ||
| 3M | VNIVND3MD= | ||
| VND VNIBOR reference rate1 | Quote based tenors | 2M | VNIVND2MD= |
| 6M | VNIVND6MD= | ||
| 9M | VNIVND9MD= | ||
| 1Y | VNIVND1YD= |
1. VND VNIBOR Reference Rate (2M, 6M, 9M and 1Y) may not be used as a reference in any financial products in any jurisdiction where the UK or EU benchmark regulations apply.
