The overnight interbank interest rate in Vietnam hit 2.22 percent on Monday (three days ago), the highest it has been in four months, Doanh Nhan Vietnam reported today. The publication is saying that this signals that the excess liquidity problem may have improved and suggests this is a result of billions of dollars of T-bills issued over the last month or so.
Note that these T-bills have started to mature and several trillion dong has reentered the banking system over the past week. New bills have been issued but at much smaller denominations than those that are maturing. Yesterday, for example, just VND 600 billion dong (US$24 million) were issued whereas VND 20 trillion (US$819,672,000) matured.