Currency: Vietnam dong edges weaker as black market premium widens, repo injections rise

The State Bank of Vietnam central exchange rate rose by 10 to 25,255 Tuesday, while the Google Finance mid-market rate edged up to 26,320.

The black market buy/sell stood at 26,510/26,580, leaving the mid-market premium over the official rate at 0.85 percent.

Liquidity operations

Liquidity tightened as short-term repos expanded sharply: 7-day repos increased from US$70.31 million to US$96.98 million, 14-day repos from US$72.79 million to US$101.53 million, and 28-day repos from US$51.57 million to US$93.15 million.

A fresh 91-day repo line of US$128.10 million was also opened. No new 7-day T-bills were issued.

Interbank rates

Interbank rates remained unchanged across all terms, with overnight at 4.49 percent, 1-week at 4.69 percent, 2-weeks at 5.11 percent, 1-month at 4.65 percent, 3-months at 5.49 percent, and 6-months at 5.86 percent.

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

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