SBV pours nearly 6.8tr dong after 7 consecutive weeks of net withdrawal

10-Nov-2017 Intellasia | Tri Thuc Tre | 6:00 AM Print This Post

Last week (as of November 3), the State Bank of Vietnam (SBV) maintained the issuance of 14-day tenor T-bill. However, the issuance volume decreased significantly, according to an analysis of SSI Retail Research.

The State Bank only issued a total of 12.2 trillion dong compared to 37 trillion dong in the previous week, 19 trillion dong lower than the matured volume.

As a result, 6.795 trillion dong was net injected to the system, reversing the net withdrawal trend in the previous seven weeks. The volume of outstanding bills decreased to 49.2 trillion dong.

In the interbank market, interest rates tended to increase for the second consecutive week. Specifically, overnight interest rate increased three basis points to 0.7 percent compared to 14 basis points to 0.99 percent for one-week interest rate.

For the rest of the year, the liquidity of the banking system will suffer from more pressure due to high liquidity demand at the end of the year.

 


Category: Finance, Vietnam

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