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 rose across all tenors, with the sharpest increases at the short end, signaling persistent excess demand for liquidity. On the FX side, USDVND was little changed, largely reflecting the foreign bloc’s extended net selling on Vietnam’s stock exchange while the greenback softened amid tariff headlines, U.S. labor data, and questions over the Fed’s near-term independence.