Fixed income

09

April

Exchange rate pressure escalates as tariffs hit

This week, SBV continued to inject liquidity into the banking system with greater intensity, while pressure on USDVND escalated. Interbank rates increased at short-term tenors, especially the overnight rate, while...
Report (1)

31

March

USDVND cautious ahead of U.S. “Liberation Day”

This week, the SBV injected liquidity into the banking system, albeit at a modest level, while USDVND nearly unchanged. Interbank rates steepened as short-term rates, particularly the overnight rate—declined sharply,...
Report (0)

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...
Report (0)

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...
Report (7)

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...
Report (9)

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....
Report (5)

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,...
Report (4)

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...
Report (6)

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...
Report (3)
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