Currency: Vietnam dong stable, short-term repo demand shifts, Tuesday

Vietnam’s central exchange rate edged down again on 5 August, while the black market premium narrowed slightly. 

Interbank interest rates held steady, but SBV repo activity shifted significantly across maturities.

Key details:

• SBV central rate: Dropped 21 dong to VND 25,219
• Google Finance rate: Rose 48 dong to VND 26,243
• Black market mid-rate: Inched up to VND 26,450
• Black market premium: Narrowed from 0.95 percent to 0.79 percent
• Spread (Black – Google mid): Down from 250 dong to 207 dong

SBV open market operations:

• 7-day repos: Fell from US$464.9 million to US$348.7 million
• 14-day repos: Doubled to US$341.2 million
• 28-day repos: Sharply reduced to US$72.1 million
• 91-day repos and 7-day T-bills: No activity reported

Interbank interest rates:

• Stable across all terms, including overnight (5.36 percent), 1-week (5.35 percent), and 3-month (5.46 percent)

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