Currency: Vietnam official-unofficial exchange rate gap widens as interbank rates climb, Monday

The State Bank of Vietnam (SBV) set the central exchange rate at VND 25,245 per US$1 Monday, down 4 dong from August 15. 

Conversely, on the market, Google Finance’s mid rate edged up to VND 26,299.94 per US$, a 30-dong increase. 

The black market mid-rate also firmed to VND 26,515 per US$, widening the gap with the official mid-market to 215 dong, or 0.82 percent.

Repo operations

Reverse repo activity declined across maturities. 

The 7-day facility dropped to US$70.31 million from US$334.89 million on August 15. 

The 14-day repo stood at US$72.79 million, down from US$152.34 million, while the 28-day tenor eased to US$51.57 million from US$210.03 million. 

No 91-day repos were issued. Treasury bill issuance remained at zero.

Interbank rates

Liquidity tightened in the interbank market. 

Overnight rates rose to 4.49 percent from 3.88 percent. 

The one-week tenor climbed to 4.69 percent from 4.11 percent, while the two-week tenor inched up to 5.11 percent. 

One-month rates fell slightly to 4.65 percent, three-month eased to 5.49 percent, while the six-month tenor edged up to 5.86 percent.

See also: How Low Can the Vietnamese Dong Go? Why it’s Sliding & What Might Happen Next

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