Macro
24
March
Exchange rate pressure reignites ahead of reciprocal tariffs plan
This week, the SBV shifted to liquidity withdrawal, albeit at a modest level, while USDVND pressure returned. Interbank rates steepened, with short-term rates ticking up while longer-term rates declined. On...
17
March
SBV begins to enact its stimulus measures
This week, the SBV shifted to injecting liquidity into the banking system, primarily through repos while continuing to halt T-bill issuance, as USDVND remained stable. Interbank rates diverged, with short-term...
10
March
Interbank rates drop on SBV’s repo rollover
This week, the SBV continued to withdraw liquidity, albeit at moderate level by rolling over a sufficient amount of repos to mitigate the impact, while USDVND cooled down. As a...
06
March
Economic activities maintain momentum on domestic factors
Vietnam’s economic momentum remains strong, with domestic consumption emerging as the primary driver, according to GSO’s February report. While export turnover and export-driven industrial production grew at a slower pace...
03
March
SBV moderately withdraws liquidity while USDVND pressure extends
This week, the SBV continued to withdraw liquidity, albeit at a moderate level, while USDVND maintained its rally. The interbank yield curve shifted upward, with shorter tenors experiencing sharper increases....
24
February
SBV continues to withdraw liquidity amid ongoing exchange rate pressures
This week, the SBV continued to withdraw liquidity as the banking system remained abundant following the fading post-Tet effect, while USDVND maintained its upward trajectory. Specifically, with easing liquidity pressures,...
17
February
SBV withdraws liquidity amid escalating USDVND pressure
This week, the SBV returned to liquidity withdrawal as post-Tet effects faded, while USDVND surged. Specifically, with easing liquidity pressures, the interbank rate curve shifted downward this week. On the...
13
February
SBV calibrates FX quotation amid global uncertainties
On 11 February, 2025, SBV revised its methodology for determining USD selling and buying prices, shifting to a daily adjustment mechanism based on central rate fluctuations instead of maintaining fixed...
10
February
SBV supports liquidity amid escalating USDVND pressure after Tet
This week, liquidity tensions emerged in the money market after the Tet holiday, with interbank rates rising significantly. In response, the SBV injected liquidity to ease pressure despite escalating USDVND...
Featured Analysis
Derivatives: Selling signal?
Market commentary: Cash flow returning?
Derivatives: Maintaining the uptrend
Derivatives: Breakout session
Market commentary: Positive performance
Exchange rate pressure reignites ahead of reciprocal tariffs plan
Covered warrant: Capital flows support the market
