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 suggesting healthy funding conditions. In the FX market, the USDVND rose sharply, while the foreign bloc continued its net selling on the stock exchange for the seventh consecutive week, contributing to the increase in the exchange rate. Meanwhile, the USD weakened toward the weekend on rising expectations of a Fed rate cut in September.