Macro
07
April
SBV ramped up liquidity injection ahead of the new quarter
This week, the SBV stepped up liquidity injections as demand picked up at the start of 2nd quarter after credit room was largely used up in the previous one, alongside...
06
April
Growth moderated while geopolitical wounds begin to fester
Vietnam’s economic performance in March and the first quarter showed solid momentum. Trade and industrial production remained resilient, while consumption stayed robust, supported by record tourist arrivals. FDI inflows were...
30
March
Upward pressure on USDVND persists
In 13W26, the SBV conducted a modest net liquidity injection into the banking system by rolling over repo operations to offset a substantial value of maturing repos. This action aimed...
23
March
USDVND under pressure amid prolonged Middle East tensions
In 12W26, the SBV continued its net liquidity withdrawal for a second consecutive week at a strong pace as funding demand in the banking system normalized. On the interbank market,...
17
March
Feb 2026: High issuances on few issuers
In Feb, total value of bond issuance surged 73.5% yoy but down 57.0% mom to VND4,080bn (Fig. 1), of which BID was the sole issuer in banking industry with VND4,000bn...
16
March
SBV withdraws liquidity amid diverging interbank rates
In 11W26, the SBV shifted to a substantial net liquidity withdrawal to absorb excess funds as post holiday funding pressure fully subsided, while interbank rates showed a clear divergence as...
09
March
SBV returns to net liquidity injection amid cooling interbank rates
In 10W26, the SBV returned to a net liquidity injection by rolling over repo contracts to prevent system tightening, while interbank rates eased as funding demand stabilized. On the FX...
06
March
Seasonal lull amid mounting geopolitical risks
The latest socio-economic report indicates that economic activity in Vietnam slowed noticeably in February, largely due to the Lunar New Year holiday. Industrial production and trade volumes softened during this...
02
March
SBV withdraws liquidity amid diverging interbank rates
In 9W26, the SBV shifted to a substantial net liquidity withdrawal to absorb the excess funds returning to the banking system after the heavy net injections prior to the Lunar...
Featured Analysis
Covered warrant: Liquidity slightly rebounded
Derivatives: Capital flow returns
Market commentary: Sustained selling pressure
Growth moderated while geopolitical wounds begin to fester
Market traders: Foreign investors maintained net selling
Derivatives: Increased selling pressure
Market commentary: Late-session selling pressure
