The State Bank of Vietnam (SBV) adjusted its central exchange rate to VND 25,228 on 8 August, marking a slight decrease of 11 VND from the previous day.
In contrast, the Google Finance mid-market rate increased by 10 VND, reaching VND 26,225.
Black Market Rates
The black market rates remained stable, with the buy rate holding steady at VND 26,420 and the sell rate at VND 26,480.
The difference between the black market and Google Finance rates narrowed slightly to 0.86%.
Repo Market Trends
Repo transactions showed mixed results today.
The 7-day repos decreased from US$390.45 million to US$338.44 million, while 14-day repos increased from US$486.63 million to US$571.97 million.
The 28-day repos dropped sharply from US$118.98 million to US$53.16 million.
Interbank Interest Rates
Interbank interest rates saw an upward movement, with the overnight rate rising sharply to 6.6%, up from 5.48% on 7 August.
Other short-term rates, including the 1-week and 2-week rates, also experienced slight increases, indicating tightening liquidity.
Market Outlook
These movements point to a slight tightening of liquidity in Vietnam’s financial market, with fluctuations in exchange rates, repo transactions, and interbank rates reflecting evolving market dynamics.
See also: How Low Can the Vietnamese Dong Go? Why it’s Sliding & What Might Happen Next