The State Bank of Vietnam has announced that it issued treasury bills to the value of VND 10 trillion (US$411 million) yesterday, The Investor is reporting. The online publication says this is ‘related to exchange rate developments in recent days.’ Pressure has been mounting on the dong in recent months as interest rates remain low but borrowing stubbornly refuses to pick up. With this in mind, it seems these bills may be designed to alleviate some of that pressure, however, with a term of just 28 days this can only be a temporary fix.
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