As reported by the local online news provider NDHMoney, the open market operations (OMO) had significant changes in the session on March 15.
Particularly, in the morning March 15, the State Bank of Vietnam (SBV) pumped 941 billion dong for 7-day term at the interest rate of 13 percent per annum (p.a.). This is “Reverse Repo” operation that has been done for a long time.
However, in the afternoon, the central bank issued bills of exchange for terms of 28, 91 and 182 days. Accordingly, the central bank issued one trillion dong worth of bills of exchange for 28-day term at the interest rate of 11.5 percent p.a., 388 billion dong for 91-day term at the interest rate of 12 percent p.a. and 376 billion dong for 182-day term at the interest rate of 12.5 percent p.a.
As explained by the central bank’s transaction office, currently, the liquidity of commercial banks is very good, so the central bank issued bills of exchange to withdraw money from OMO with an aim to regulate the money inflows.
Earlier, the central bank also made some issuances of bills of exchange for 364-day term, but the actual success volume reached total only less than two trillion dong.
Previously, answering the press on March 6, the SBV governor, Nguyen Van Binh, said that the central bank will issue bills of exchange for 1-3 and 6-month terms and in necessary cases, the central bank will be ready to issue for 364-day term with reasonable interest rate to withdraw capital in excess in the market