After six weeks of net withdrawal since the Lunar New Year, the State Bank of Vietnam (SBV) has net injected again last week.
In the weekly bond newsletter for the 14th week from April 2nd to April 6th 2018, Bao Viet Securities Company (BVSC) mentioned that SBV during the week issued 15.7 trillion dong of 28-day bills while the maturity via this channel reached 43 trillion dong. Thus, the agency net injected 27.3 trillion dong via bill channel during the week.
Another notable development is that after weeks of continuous decline, the average interbank rate in the 14th week tended to slightly increased on overnight and one-week terms at an amplitude of 0.01-0.08 percent. Specifically, the over-night rate increased by 0.08 percent to 0.88 percent per annum, while one-week rate increased by 0.01 percent to 0.91 percent per annum. Meanwhile, the two-week rate fell by 0.07 percent to 1.09 percent per annum.
This development is considered normal is in the forecast as the amount of idle money after the Lunar New Year is tending to return to the banking system while credit has not accelerated significantly in the beginning of the year.
Nevertheless, according to BVSC, the liquidity of banks is still in a positive state.
