The State Bank of Vietnam (SBV) set the central exchange rate at VND 25,298 per US dollar on 22 August, up 25 dong from the previous day.
This marked a faster pace of depreciation after a 10-dong move on 21 August.
Market divergence
Google Finance’s mid-market rate eased to VND 26,365, down 67 dong from a day earlier, while the black market remained steady at VND 26,545.
The gap between the informal market and Google Finance widened to 180 dong, or 0.68 percent, compared with 0.43 percent the previous session.
Liquidity operations
SBV liquidity injections shifted in tenor.
Outstanding 14-day repos nearly doubled to US$1.14 billion on 22 August from US$620.6 million the day before, while 28-day repos surged to US$524.9 million from US$54.2 million.
Seven-day repos slipped slightly to US$314.5 million, and 91-day repos fell to US$44.2 million.
No new treasury bills were issued.
Interbank rates
Interbank interest rates were unchanged across all maturities, with overnight at 3.78 percent, one month at 5.17 percent, and six months at 5.82 percent, indicating stable short-term funding costs despite SBV’s repo adjustments.
See also: How Low Can the Vietnamese Dong Go? Why it’s Sliding & What Might Happen Next