The State Bank of Vietnam (SBV) set the central exchange rate at VND 25,249, Friday, a 9-dong increase from the previous day.
The black market mid-rate remained steady at VND 26,445, representing a 0.86 percent premium over the Google Finance mid-rate of VND 26,220.
Central bank ramps up liquidity injections
The SBV expanded liquidity support through open market operations, increasing total outstanding reverse repos to US$1.18 billion.
This included US$646.65 million in new 14-day repos and the reintroduction of 28- and 91-day repos worth a combined US$228.56 million.
Interbank interest rates decline sharply
Funding costs across the banking system dropped.
The overnight rate fell from 4.33 percent to 3.35 percent.
Short-term tenors such as 1-week and 2-week eased to 4.24 percent and 4.34 percent, respectively, while the 1-month rate fell to 4.64 percent.
Only the 3- and 6-month tenors saw slight increases.
No change in treasury bills or cash market
No new treasury bills were issued, and the black market cash buy/sell rates held steady at VND 26,440–26,450.
The gap between official and unofficial exchange rates continues to reflect pressure on the dong.
See also: How Low Can the Vietnamese Dong Go? Why it’s Sliding & What Might Happen Next