SBV shifts to net injection

This week, the SBV returned to a net liquidity injection stance after three consecutive weeks of withdrawing funds from the system. On the interbank market rates continued to trend upward across most tenors especially at the short end as liquidity remained tight following previous net withdrawals. On the FX front, USDVND cooled significantly while the greenback lost momentum globally following the Federal Reserve decision to hold interest rates steady and news surrounding the nomination of a new Fed chair.