Vietnam’s central exchange rate inched down by 2 dong on 25 July to VND 25,164 per US dollar, according to the State Bank of Vietnam.
This followed a larger 11-dong drop the day before.
Premium narrows between official and unofficial rates
The black market rate remained flat, with dollar buying and selling rates unchanged at VND 26,380 and VND 26,460 respectively.
This kept the mid black market rate at VND 26,420, while the mid-market rate from Google Finance edged up 12 dong to VND 26,147.
The premium between the unofficial and mid-market rates narrowed slightly to 1.04 percent, down from 1.09 percent on 24 July.
The absolute gap also eased to 273 dong from 285 dong the previous day, suggesting slight easing in USD-VND pressures after a month of sharp depreciation.
SBV reduces liquidity support through repos
Total liquidity provided through reverse repos declined across all tenors.
The SBV injected US$462.97 million via 7-day repos on 25 July, down from US$552.20 million a day earlier.
Repos at 14-day and 28-day maturities also fell to US$425.76 million and US$317.10 million respectively, from previous levels above US$380 million.
Interbank interest rates remain stable
Interbank interest rates were unchanged across all major tenors.
The overnight rate held at 5.26 percent, with 1-week and 2-week rates at 5.24 and 5.05 percent, respectively.
See also: Right Now, a Weak Dong Could be Good for Vietnam. Here’s Why.