Macro
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,...
28
March
Reciprocal tariffs: Fueling trade tensions
The global economy has remained in turmoil since Mr. Trump returned for a second term, and it is likely to face even greater volatility as reciprocal tariffs—measures that will further...
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...
Featured Analysis
Market commentary: Negative sentiment dominates the market
Covered warrant: Cautious sentiment dominates CWs market
USDVND cautious ahead of U.S. “Liberation Day”
Market Trader: Liquidity continues to decline
Market commentary: Volatile movements
Derivatives: Liquidity declines
Chart of the day: Liquidity weakens
