The State Bank of Vietnam’s (SBV) central exchange rate strengthened Monday going from 25,128 to 25,126, a 2 dong change.
Meanwhile, Google Finance’s mid-market rate saw the dong weaken by 11 dong sliding from from 26114.5 to 26,125.
Black market premium narrows
On the black market rates saw minor adjustments:
- Buy: Up to 26,400 dong from 26,400
- Sell: Up to 26,490 dong from 26,490
- Mid-market: Slight rise to 26,445 dong
The difference between the black market mid-rate and the Google Finance mid-rate narrowed to 1.03 percent, down from 1.27 percent, indicating slightly reduced pressure in unofficial currency trading.
Strong liquidity injections through repos
The SBV carried out US$656.86 million in 7-day repos, significantly higher than the US$438.23 million recorded on 11 July.
Meanwhile, T-bills issuances surged to US$191.38 million from US$53.61 million, Friday.
Interbank rates remain stable
Interbank interest rates were broadly steady across maturities:
- Overnight: 4.65 percent (unchanged)
- 1 week: Slight uptick to 4.66 percent
- 2 weeks: Steady at 4.71 percent
- 1 month: Edged up to 4.31 percent
- 3 months: Increased to 4.78 percent
- 6 months: Marginal rise to 5.27 percent
This stability suggests that banks are confident in near-term funding conditions, supported by the central bank’s ongoing liquidity measures.
See also: How Low Can the Vietnamese Dong Go? Why it’s Sliding & What Might Happen Next