Macro
15
September
USDVND moves sideways ahead of the FOMC
This week, USDVND was little changed while the dollar index fell sharply as the FOMC meeting approached. Specifically, concerns about the U.S. labor market outweighed sticky inflation: job openings declined,...
09
September
SBV withdraws liquidity after the holiday
This week, the SBV maintained a sizable net liquidity withdrawal as repo maturities outpaced new issuance, signaling eased system liquidity. Interbank rates fell across most tenors, with higher trading volumes...
08
September
Domestic demand takes the lead as external risks recede
The macroeconomic landscape of Vietnam in August continued to present a multifaceted picture. Specifically, FDI showed improvement compared to the same period last year, though the overall growth trend remained...
03
September
SBV withdraws liquidity ahead of Independence Day
This week, the SBV returned to a sizable net liquidity withdrawal as liquidity condition in the banking system turned soft with interbank rates, especially those on short-term tenors, falling sharply....
25
August
Dovish Fed, decisive SBV amid USDVND movement
This week, USDVND spiked early before easing by week’s end, driven by both external and domestic factors. On the global front, the dollar softened after Chair Powell signaled openness to...
22
August
Vietnam’s IFC: What to know? (P.1)
Vietnam is entering a decisive stage in establishing International Financial Centers (IFCs) in Ho Chi Minh City and Da Nang, with the goal of mobilizing global capital and advancing long-term...
18
August
USDVND edges higher, overriding global dollar weakness
This week, the SBV returned to net liquidity withdrawal as demand cooled, while the interbank curve steepened with sharp declines in short-term rates and slight increases at the long end,...
11
August
USDVND moves sideways in an information-light week
This week, the SBV injected liquidity into the banking system, albeit at a modest level, while interbank rates stayed elevated and USDVND was broadly flat. On the interbank market, rates...
07
August
Jul 2025: Lower issuances, higher maturity pressure
In Jul 2025 the total bond issuance dropped to VND43,303bn (Fig. 1), +6% yoy and -65% mom Corporate bond maturities in August are projected to reach VND35,752bn, +433% yoy
Featured Analysis
The greenback cooled amid reignited trade war risks
Covered warrant: Liquidity continues to rise
Derivatives: Positive market sentiment
Market commentary: Extending the rally
Chart of the day: Breakout week
Strategic Insight: A new bullish phase
Derivatives: Uptrend sustained
