Vietnam’s central bank continued to inject large amounts of liquidity into the banking system on July 16, as interbank rates edged higher and black market currency spreads narrowed slightly.
Key data points:
- SBV provided strong liquidity support with US$1.15 billion in 7-day repos on 16 July, slightly lower than US$1.19 billion on 15 July.
- T-bill sales were stable at about US$38.2 million on both days.
- Central exchange rate set at 25,168 on 16 July, up from 25,148 on 15 July.
- Google Finance mid-market rate rose slightly to 26,160, up 23 points from the day before.
- Black market USD buy and sell rates steady at 26,350 and 26,420 respectively, keeping the mid-rate at 26,385.
- Gap between black market and Google mid-rate narrowed to 225 VND (0.86 percent), from 248 VND (0.95 percent) on 15 July.
- Interbank overnight rate rose to 4.78 percent from 4.68 percent, with small increases also for 1-week and 2-week rates.
- Longer-term interbank rates (6 months) fell to 5.18 percent, down from 5.27 percent, signalling mixed liquidity pressures.
See also: How Low Can the Vietnamese Dong Go? Why it’s Sliding & What Might Happen Next