SBV continue to injects liquidity ahead of Tet holiday

This week, the SBV maintained net liquidity injections, albeit at a moderate level, as the Tet holiday approaches. On the interbank market, short term rates eased alongside lower trading volume, indicating that funding demand has cooled ahead of the holiday following the SBV’s heavy liquidity injections in previous weeks. On the FX front, USDVND remained broadly sideways as the slight decline in the US dollar was offset by the return of significant foreign net buying on the HOSE, which exerted upward pressure on the exchange rate.