Currency: Vietnam central dong rate—black market spread narrows to 6.66 percent, Thursday

The State Bank of Vietnam kept its central exchange rate unchanged at VND 25,221 per US dollar, while the Google Finance mid-market rate edged to 26,402.50.

On the black market, the mid-rate slipped to 26,900 from 26,965, narrowing the spread over the official rate to 6.66 percent from 6.91 percent a day earlier.

Repo activity showed a divergence across maturities.

Seven-day repos held near US$37.9 million, but 14-day repos doubled to US$75.75 million, and 91-day repos jumped sharply to US$354.59 million from just US$37.3 million, suggesting stronger demand for longer-term liquidity. T-bill operations remained inactive.

Interbank interest rates eased slightly at the short end, with overnight down to 4.01 percent and one-week at 4.34 percent.

Longer maturities were mixed: the one-month tenor was steady at 5.02 percent, three-month rose to 5.57 percent, while six-month declined to 5.60 percent.

See also: Right Now, a Weak Dong Could be Good for Vietnam. Here’s Why.

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